Bitpanda, the Viennese fintech with more than 1 million users, just reached a significant milestone. The startup sold out their first Initial Exchange Offering (IEO) for its own ecosystem token BEST, having successfully raised €43.6 million. This makes BEST Europe’s most successful IEO to date. The fintech startup also just launched the Bitpanda Global Exchange (Bitpanda GE), a digital asset exchange for experienced traders, professionals and institutions. Bitpanda’s first worldwide product allows crypto-to-crypto trading around the world and fiat-to-crypto trading in more than 54 countries. It has been developed 100% in-house over the past two years. Bitpanda GE will also offer some of the lowest maker and taker fees in the industry.
Founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer, Bitpanda’s mission is to tear down the barriers to investing and bring traditional financial products to the 21st century. Today, Bitpanda has more than 1 million users and 120 team members. With a PSD2 payment service provider license, state-of-the-art security and streamlined user experience, Bitpanda has grown into a popular trading platform for newbies and experts alike. Users can currently trade Bitcoin, Ethereum, gold and over 20 other digital assets.
Bitpanda CEO Eric Demuth stated: “Our goal is to establish the Bitpanda Global Exchange as the largest Euro exchange with the lowest fees for fiat-to-crypto trading in the industry. Bitpanda has been around since 2014 and holds an excellent reputation. We can build on a lot of synergies and experience.”
The Bitpanda Ecosystem Token (BEST) is the Bitpanda coin that offers users a wide range of benefits and perks within the company’s ecosystem. For example, they will get a reduction of up to 25% on Bitpanda trading fees starting in Q4 2019 and will get priority access to the upcoming Bitpanda Launchpad.
The company will use the €43.6 million raised with BEST to drive expansion beyond Europe and cryptocurrencies. Bitpanda continues to work hard towards a fairer, more transparent and easily accessible world of personal finance.