Bitpanda, a crypto properties platform, has closed a $52 million Series A funding round from Valar Ventures, an equity capital firm backed by Peter Thiel. Vienna-based VC Speedinvest Got involved, alongside other unnamed investors. Claiming 1.3 million users, Bitpanda has formerly been trading digital properties and tokenizing rare-earth elements. The Vienna-based business will use the cash to broaden worldwide. It broadened to France, Spain and Turkey in 2020, and prepares to enter extra European markets this year and next. It has 300 workers. Essentially, Bitpanda is a crypto exchange which can support other kinds of possessions in a tokenized form. To date, it’s not effectively known or used in the crypto world. What this represents
is a fascinating relocation by a crypto exchange, efficiently expanding into real-world assets. At the other end of the spectrum, platforms like eToro, Robinhood and Revolut, which came from conventional possessions world, and are now including crypto world possessions. Eventually, the two will satisfy, in some shape or type. Bitpanda is a central exchange with its own facilities, and is not running on a public blockchain. Other central exchanges include Coinbase, Kraken, Binance, Kucoin and Huobi. As part of the financial investment, Valar Ventures founding partner Andrew McCormack will likewise sign up with Bitpanda‘s board. McCormack was previously with PayPal in its early years and supported Peter Thiel during its IPO and eventual sale to eBay in 2002. Valar has actually previously purchased European fintechs consisting of TransferWise and the Germany-based digital bank, N26. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.