Cryptoecosystem has chosen another CEO from among its traditional financiers. Two months after raising $ 263 million, European cryptocurrency exchange Bitpanda announced that former JPMorgan CEO Joshua Barraclough has joined its ranks as CEO of the fully regulated digital asset exchange Bitpanda Pro.
Before moving into the world of cryptocurrencies, Barraclough worked as a global leader of the fintech team and then as co-head of digital innovation at JP Morgan. When asked by Cointelegraph about the move, Baraklo said leaving JPMorgan and joining Bitpanda was an easy decision.
“I’ve always been at the forefront of innovation and my job at JPMorgan has been to open new businesses to challenge and transform traditional finance,” he said, adding:
“The cryptocurrency ecosystem is the most exciting part of it right now, with an incredible pace of change and growth in adoption. We want to bridge the gap between digital assets and traditional finance based on my previous experience. ”
Barraclough spoke about the massive adoption of cryptocurrencies and the influx of new institutional funds. “This wave of institutional investment, unaffected by many of the regulatory issues in the recent bull run, demonstrated the viability of Bitcoin (BTC) as a safe haven and hedge against inflation,” he explained.
He also noted the growing interest in other Layer 1 protocols such as Solana and Avalanche and innovative DeFi applications. “Far from the meme-based game that many still believe, investors treat cryptocurrencies the same way investors treat stocks and ETFs,” he added.
“Bitcoin is a $ 1 trillion asset and the world’s largest investors have invested a significant portion of their portfolios in currency. When people like JPMorgan and Blackrock are serious about investing, it’s a sure sign that they are staying. ”
Talking about the role of cryptocurrencies as a gateway to traditional investment, Barraclough explained that cryptocurrency is becoming the first investment vehicle for young digital citizens and “acts as a gateway to greater financial education, creating wealth through a diversified portfolio.”
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Bitpanda is known for offering digital versions of precious metals such as gold, silver and platinum. This wallet has not yet been added to Bitpanda Pro, an enhanced version of the main platform regulated by the EU. Barraclough told Cointelegraph that the exchange is “actively seeking to offer more traditional assets beyond gold and silver, using blockchain and token technology.”
Bitpanda raised $ 263 million in the C-Series led by Valar Ventures, bringing the total market value to $ 4.1 billion. Together with new employees, the company announced that it will use the new capital to expand into new markets in France, Spain, Italy and Portugal.