The crypto ecosystem has selected another executive from traditional finance. Two months after raising $263 million, the European-based cryptocurrency trading platform Bitpanda announced that former JPMorgan Chase executive Joshua Barraclough has joined the ranks as the CEO of Bitpanda Pro, its fully regulated digital asset exchange.
Before entering the crypto world, Barraclough served as the global head of the fintech team, and then as the co-head of JP Morgan’s digital innovation. In response to Cointelegraph’s question about transition, Barraclough said that leaving JP Morgan to join Bitpanda was a simple decision.
“I have always been at the forefront of innovation, and my job at JPMorgan Chase is to launch new businesses to challenge and transform traditional finance,” he said, adding:
“The crypto ecosystem is the most exciting part at the moment, and the growth in its changes and adoption speed is incredible. We hope to build on my previous experience to further bridge the gap between digital assets and traditional finance.”
Barraclough talked about the rapid adoption of encryption technology and the influx of new institutional funds. “This wave of institutional investment has not been affected by the many regulatory concerns of the last bull market, and has proven the feasibility of Bitcoin (Bitcoin) As a safe store of value and inflation hedge,” he explained.
He also pointed to the growing interest in other layer 1 protocols, such as Solana and Avalanche and innovative DeFi applications. “Far from the gambling driven by memes that many people still think, investors are treating cryptocurrencies in the same way as stocks and ETFs,” he added.
“Bitcoin is an asset worth $1 trillion, and the world’s largest investor has allocated a large portion of its investment portfolio to the currency. When companies such as JP Morgan Chase and BlackRock take an investment seriously , This is a sure sign that it will continue to exist.”
When talking about the role of cryptocurrency as a gateway to more traditional investments, Barraclough emphasized that crypto, as the first investment asset of young digital natives, is gaining traction and “as a gateway to further financial education, through diversified The investment portfolio accumulates wealth.”
As we all know, Bitpanda provides digital versions of precious metals such as gold, silver and platinum. This product portfolio has not been added to Bitpanda Pro, which is an advanced and EU-wide regulated version of the main platform. Barraclough told Cointelegraph that the exchange “is actively considering offering more traditional assets beyond gold and silver, and using blockchain technology and tokenization to facilitate this.”
Bitpanda received US$263 million in Series C funding led by Valar Ventures The total market value reaches 4.1 billion U.S. dollarsIn addition to the new employees, the company subsequently announced that it would use the new funds to expand into new markets in France, Spain, Italy and Portugal.