By George Ward
According to the latest reports, Eric Demuth, Paul Klanschek, and Christian Trummer have unveiled another ambitious investment tool for the growing Austrian market. Bitpanda founders follow in the footsteps of other fintech entrepreneurs by providing creative digital assets, financial services, and products.
Following the successes of Bitpanda, the trio has introduced another investment vehicle for the expanding market. Accordingly, the founders have named the new investment vehicle “Diamond Hand Ventures.”
According to insiders familiar with the new development, the Austrian company register shows the filings of the founders in their application to register the new firm in May 2021.
Additional information revealed that filings from the UK-based Companies House show that Bitpanda’s owners participated in the $50 million Series B funding round for the crypto custodian firm Cooper in the same period.
Similarly, the platform is reportedly involved in the blockchain developer unicorn Tatum, payment solutions startup, Payable, and Web3 accounting firm Consola Finance, as revealed by multiple media outlets. In addition, reports show that one of the founders, Demuth, is an angel investment partner in the French fintech startups Finary and Talking Hands.
Meanwhile, Diamond Hand Ventures is a specialized tool to serve the founder’s angel investment drive. The spokesperson for Bitpanda noted that the new entity is not a venture capital platform, as it is not designed to access outside capital.
However, Bitpanda is not without its struggles in 2022. As the crypto winter bit harder, the market turmoil forced the exchange to downsize one-third of its workforce last June. Nevertheless, it has continued to develop investment products to leverage the expanding digital financial asset market.
Bitpanda To Lure Investors To TradFi
Nevertheless, the Austrian-based crypto unicorn is looking to attract investors by leveraging traditional finance (TradFi) offerings on its platform. The company revealed this in September after CEO Eric Demuth revealed that the exchange would add commodities to its range of investment products.
Demuth noted that the aim is to give users a chance to benefit from short-term price fluctuations in conventionally traded commodities like oil, gas, and wheat. In addition, by leveraging TradFi, the platform wants to integrate some DeFi features to ensure accessibility.
According to Demuth, if enterprises can provide access and seamless crypto trading, the possibilities in the TradFi space will keep expanding. However, the CEO emphasized educating investors on the pros and cons of such investments and assets.
HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.