BitPanda hires former JPMorgan executive to lead the regulated Exchange while investors are increasingly treating crypto in the same way as they do with stocks and ETFs, accoridng to the new CEO of the platform. Following the latest developments, we are reading more about it in today’s cryptocurrency news.
The crypto ecosystem picked another executive from the traditional finance space and two months after raising $263 million, the Europe-based crypto trading platform Bitpanda announced that Joshua Barraclough, a former executive at JPMorgan will be the new CEO of the exchange Bitpanda Pro. Before transitioning into the crypto space, Barraclough worked as the head of the fintech team and then as the co-head of digital innovations at JPMorgan. He said that leaving JPMorgan to lead BitPanda was an easy decision:
“I have always been at the bleeding edge of innovation, and my job at JP Morgan was to launch new businesses to challenge and transform traditional finance. 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.”
Barraclough also commented on the surging crypto adoption and the fresh institutional money by saying:
“This wave of institutional investment, unaffected by many of the regulatory worries of the last bull run, has proven the viability of Bitcoin (BTC) as a secure store of value and inflation hedge.”
He pointed to the increasing interest in the Layer 1 protocols like Avalanche and Solana and innovative DeFi applications:
“Far from being the meme-fueled gamble that many still view it as, investors are treating cryptocurrencies in the same way as stocks and ETFs. Bitcoin is a $1 trillion asset and has seen the world’s biggest investors allocate significant portions of their portfolios to the currency. When the likes of JPMorgan and Blackrock are taking an investment seriously, it’s a sure sign that it’s here to stay.”
Speaking about crypto’s role as the gateway to traditional investments, Barraclough outlined that crypto is gaining even more traction as the first investment asset for the digital natives and poses as a gateway for further financial education. Bitpanda hires ex-JPMorgan executives as it is known to offer versions of the precious metals in digital form and its portfolio is only growing. The exchange secured $263 million in Valar Ventures Series C round and brought its market value to $4.1 billion.
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