Austrian crypto trading platform Bitpanda on Wednesday announced that it is going to launch a global digital asset exchange called Bitpanda Global Exchange.
The new platform will be targeted to experienced traders, professionals, and institutions, and will allow both crypto-to-crypto and fiat-to-crypto trading. Clients can deposit funds in three fiat currencies – euro, Swiss franc, and British pound.
Commenting on the development, Eric Demuth, chief executive of the crypto exchange, said: “Offering experienced users a way to trade digital assets and building the largest Euro exchange is the next logical step for us. Bitpanda has been around since 2014 and we are a key player in Europe. We can build on a lot of synergies and experience.”
Getting on the IEO bandwagon
Apart from the global exchange, Bitpanda is also launching its native digital currency called Bitpanda Ecosystem Token (BEST) via an initial exchange offering (IEO). In addition, the exchange will launch an IEO platform – Bitpanda Launchpad – to get a piece of the lucrative token sale market.
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The announcement also detailed that the global exchange will facilitate trading pairs including BTC/EUR, BTC/USDT, ETH/EUR, XRP/EUR, MIOTA/EUR, ETH/BTC, XRP/BTC, MIOTA/BTC, PAN/BTC, BEST/BTC, BEST/EUR, and BEST/USDT.
Becoming a European mammoth
In April, Bitpanda received a license from the Austrian market regulator to operate as a payment service provider in both the European Economic Area (EEA) and the European Union.
Last month, the European exchange also stated bullion trading by introduced trading services for digitized gold and silver along with other digital assets.
“BEST will play a vital role in Bitpanda’s global expansion and in making our vision of democratizing personal finance and investing. BEST is the fuel of the Bitpanda ecosystem, which means that the Bitpanda platform, the Bitpanda Global Exchange and future products like the Bitpanda Launchpad will make heavy use of incorporating BEST,” the CEO added.