One Trading, formerly known as Bitpanda Pro, is set to launch its new digital asset trading venture, F.A.S.T, in the coming weeks. The company promises a faster trading experience that addresses scalability issues, with an operational speed of less than one microsecond.
Independent testing by Amazon Web Service (AWS) found that the exchange’s round trip of 112 microseconds was faster than London Stock Exchange Group’s Turquoise venue and 1,000 times quicker than CME’s global Matching Engine. The new trading platform will offer users a suite of regulated product offerings to capitalize on the emerging economy.
In order to attract more institutional investors, One Trading plans to provide free trading on all cryptocurrency pairs listed. The platform will offer spot and OTC trading options with instant settlement, supported by institutional-grade security and post-trade settlement capabilities.
The European-based exchange split from Bitpanda earlier this year, raising £30 million in a series A funding round led by Peter Thiel’s Valar Ventures, with other investors including MiddleGame Ventures, Speedinvest, Keyrock and Wintermute Ventures.
One Trading’s CEO, Josh Barraclough, believes that the new venture will “redefine speed and efficiency”. Strategy and growth lead, Greg McLoughlin, added that the price discovery and execution advantage could make it the “central risk transfer venue for all major liquidity providers”.
Entering an already crowded market with 227 spot exchanges globally, One Trading will look to set itself apart by focusing on speed. The exchange is expected to debut at an undisclosed date in the next few weeks.
