Thiel-backed One Trading secures license from Dutch regulator for perpetual futures

Cryptocurrency exchange One Trading has been granted an Organized Trading Facility license by the Dutch financial regulator to operate crypto futures trading in the European Union.

One Trading, the cryptocurrency trading platform founded by Bitpanda, has become the only futures trading platform in the European Union by obtaining a license from the Dutch Financial Markets Authority. The company announced in a press release on Monday that it has become the only futures trading platform in the European Union.

The so-called Organized Trading Facility license positions the Netherlands-based crypto exchange as the first cash-settled continuous trading platform in Europe, including the U.K., the press release said. One Trading founder Joshua Barraclough says the license is part of the company’s mission to enable all types of clients to “open long or short positions on any asset, use any asset as collateral, close everything instantly, and roll contracts over continuously.”

“With this license, we are well positioned to offer new regulated products and institutional-grade solutions to all types of clients for whom there is currently no regulated presence in the EU, starting with BTC and ETH products.”

Joshua Barraclough

One Trading emerged as a standalone entity from Bitpanda Pro, a unit of the Austrian exchange that serves institutional crypto traders. In 2023, the exchange raised €30 million in a Series A round led by Peter Thiel’s Valar Venture, with participation from other investors including MiddleGame Ventures, Speedinvest, Keyrock, and Wintermute Ventures. In addition to its OTF license, One Trading holds a virtual asset service provider license from the Dutch regulator.