Bitpanda to launch Global Digital Asset Exchange and IEO for BEST token

Bitpanda announced that it will launch of Bitpanda Global Exchange along with Initial Exchange Offering (IEO) for its own BEST (Bitpanda Ecosystem Token).

The will be launched Bitpanda Global Exchange (Bitpanda GE) built on top of Bitpanda platform used to buy, sell and store digital assets like Bitcoin, Ethereum, digitised gold and more in Europe, the announcement notes.

Some of the notable features include Fiat deposits (Euro, Swiss Franc and British Pound) in the majority of European countries along with the global withdrawals. To start with the exchange will start trading BTC/EUR, BTC/USDT, ETH/EUR, XRP/EUR, MIOTA/EUR, ETH/BTC, XRP/BTC, MIOTA/BTC, PAN/BTC, BEST/BTC, BEST/EUR and BEST/USDT pairs.

In April 2019, Bitpanda revealed that they have received a payment service provider license issued by the Austrian financial market authority (FMA) in accordance with European law (PSD2).

Executive Opinion

Bitpanda CEO Eric Demuth, said, "Offering experienced users a way to trade digital assets and building the largest Euro exchange is the next logical step for us. Bitpanda has been around since 2014 and we are a key player in Europe. We can build on a lot of synergies and experience."

He further added, "BEST will play a vital role in Bitpanda's global expansion and in making our vision of democratising personal finance and investing. BEST is the fuel of the Bitpanda ecosystem, which means that the Bitpanda platform, the Bitpanda Global Exchange and future products like the Bitpanda Launchpad will make heavy use of incorporating BEST."

Initial Exchange Offering for BEST tokens

Along with newly introduced exchange, Bitpanda also announced that it will launch its first Initial Exchange Offering (IEO) for Bitpanda Ecosystem Token (BEST), the coin of the Bitpanda ecosystem. The IEO will launch on July 9th 2019 and BEST token trading to start from August 7th 2019, announcement stated.

To the experienced traders, BEST will offer up to 25% trading fee discount along with additional rewards and perks. Apart from gaining priority access to the upcoming Bitpanda Launchpad, the announcement did not provide more details on those additional rewards and perks.