Bitpanda raised €43.6 million by selling out their IEO;
BEST is the most successful European IEO to date;
The Bitpanda Global Exchange is the first worldwide product and was made for professionals and institutions;
It aims to become the largest Euro exchange with the lowest fees for fiat-to-crypto trading in the industry;
Bitpanda will use the funds to drive the company’s expansion.
Vienna, 7th of August 2019 - Bitpanda, the Viennese fintech with more than 1 million users, reached a significant milestone: the company 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. Today, the fintech scaleup launches 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.
“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,” says Bitpanda CEO Eric Demuth.
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.
About Bitpanda
Bitpanda is a fintech based in Vienna, Austria founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer. The company is a firm believer in the innovative power of cryptocurrencies, digitised assets and blockchain technology. 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.