The new Bitpanda Pro executive mentioned the increased crypto adoption among institutional investors.
Bitpanda employed former executive at JPMorgan (NYSE: JPM), Joshua Barraclough, to become the CEO of its advanced trading platform Bitpanda Pro. Barraclough used to be the co-head of digital innovation at JPMorgan London. While in service at JPMorgan, he was designated for coming up with bleeding-edge innovative businesses. Also, Barraclough’s role at JPMorgan was to initiate products and services that could change traditional finance prior to his new appointment at Bitpanda Pro.
Bitpanda Pro Welcomes Former JPMorgan Exec as CEO
In a statement, Barraclough said his transition from working in a traditional bank like JPMorgan to serving Bitpanda Pro was a “no-brainer.” He continued:
“As cryptocurrency investments further become part of mainstream financial markets, retail and institutional investors are demanding tools which enable them to pursue traditional investing strategies while navigating trading nuances specific to digital assets.”
Bitpanda Pro was launched in August 2018 for traders and EU-based companies. Users can easily trade at any time and anywhere through the Bitpanda Pro mobile app.
The newly-hired executive at Bitpanda referred to the crypto space as being complex. In his opinion, several companies are competing for leadership positions. However, few of the competing companies have the right tech, the required expertise, or the culture to reach these positions.
In response to Cointelegraph’s questions about his new appointment in Bitpanda Pro, the former JPMorgan executive said that he is particular about innovation, and the crypto space is to do that now.
“The crypto ecosystem is the most exciting part of that right now, with an incredible pace of change and growth in adoption. We want further to bridge the gap between digital assets and traditional finance, building on my prior experience.”
The new Bitpanda Pro executive mentioned the increased crypto adoption among institutional investors. He noted that institutions are not moved by uncertain regulation. The new CEO emphasized that Bitcoin has proven itself to survive as a store of value and hedge against inflation.
He further acknowledged Bitcoin’s achievements, growing to a $1 trillion asset. Barraclough also referred to BTC investments by world’s biggest investors. He added that JPMorgan and Blackrock’s involvement in Bitcoin is an indicator that the cryptocurrency is here to stay.
Bitpanda’s Funding Rounds
In August, Bitpanda raised $263 million in a Series C funding round. Following the investing round, Bitpanda was valued at $4.1 billion. The round was led by PayPal Holdings Inc (NASDAQ: PYPL) founder Peter Thiel’s Valar Ventures with billionaire hedge fund manager Alan Howard’s participation. Also, REDO Ventures, LeadBlock Partners, and Jump Capital contributed to the round. According to the company, the fresh capital will go into developing technology, growth, and international expansion.
In March, the Series C round came months after Bitpanda generated $170 million in its Series B funding. The Series B investment round made the company an Austria unicorn, with a market valuation of $1.2 billion. Being the first Austria’s unicorn, CEO Eric Demuth said that he is proud of the team for all the accomplishments.
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