Bitpanda, the $4.1 billion Austrian fintech firm, has announced the hire of JPMorgan executive Joshua Barraclough to lead Bitpanda Pro – a platform targeting experienced traders and institutional investors.
Barraclough most recently served as co-head of digital innovation at the investment bank, responsible for creating new businesses and products. Before that, Barraclough was the bank’s global head of fintech.
He will now lead a division in Bitpanda Pro focused on catering to experienced traders, professionals and institutional investors. The platform has seen average daily trading volume quadruple in the first half of 2021, according to a press statement.
The standard Bitpanda product allows retail investors to invest in a range of products, ranging from crypto to stocks to precious metals.
“As cryptocurrency investments further become part of mainstream financial markets, retail and institutional investors are demanding tools which enable them to pursue traditional investing strategies while navigating trading nuances specific to digital assets,” said Barraclough. “This space is complex, and while there are a fierce number of companies out there trying to win, very few have the right tech, expertise and culture to make this happen.”
Barraclough is the latest in a string of high-profile hires for the fast-growing fintech firm. It has also recently nabbed former regulator Matthias Bauer-Langgartner as its managing director in the U.K. and Ireland, as well as former Revolut executive Irina Scarlat as chief growth officer.
The company raised $263 million in a Series C round led by Peter Thiel’s Valar Ventures in August.