SC Ventures invests in One Trading, the first MiFID II-compliant crypto perpetual futures platform in the EU, marking a significant milestone in regulated crypto derivatives trading.
SC Ventures, the venture capital division of Standard Chartered Bank, has made a strategic investment in One Trading, a Bitpanda spinoff, aiming to revolutionize the cryptocurrency market in Europe. This investment will enable One Trading to launch the first-ever perpetual futures trading platform within the European Union, operating under the strict regulatory framework of MiFID II.
Expansion into the European Crypto Market
While Standard Chartered and SC Ventures have long been active in cryptocurrency ventures globally, particularly in Asia and the Middle East, this investment marks a cautious yet strategic entry into the European market. In the past, SC Ventures partnered with Northern Trust to launch Zodia, a UK-registered crypto custody platform. Standard Chartered also collaborated with Chinese fintech Linklogis to establish Olea, a digital infrastructure platform.
With the recent backing from SC Ventures, One Trading has solidified its status as a groundbreaking entity in the EU, being the first cryptocurrency exchange to receive an Organized Trading Facility (OTF) license. Granted by the Dutch Financial Markets Authority in July, this license allows One Trading to offer financial products under the Markets in Financial Instruments Directive 2018 (MiFID II). Under this regulation, crypto assets considered financial instruments are supervised, distinguishing it from the less stringent Markets in Crypto-Assets Regulation (MiCA).
Pioneering Perpetual Futures Trading in the EU
One Trading’s OTF license has paved the way for the launch of the EU’s only perpetual futures trading platform. This innovative platform will allow both retail and institutional clients across Europe, including the United Kingdom, to access regulated cryptocurrency derivatives. Additionally, it will be the first cash-settled perpetuals platform in Europe, signaling a significant milestone for the crypto industry in the region.
The introduction of MiFID II increased transparency and consumer protection in European financial markets, further legitimizing cryptocurrency trading. Alex Manson, CEO of SC Ventures, emphasized the importance of this regulatory framework, stating, “Financial innovation should not come at the cost of consumer protection — that’s why we are glad to see One Trading receiving the OTF License. We congratulate the team on becoming the first MiFID II trading venue for crypto perpetual futures in the EU.”
Although no official launch date for the crypto perpetual futures has been revealed, this investment positions One Trading as a key player in the European cryptocurrency derivatives market. The financial terms of SC Ventures’ investment remain undisclosed.
A Strategic Partnership for the Future
This funding round saw participation from other notable investors, including MiddleGame Ventures, Valar, and SpeedInvest. MiddleGame Ventures had previously invested in One Trading, while Valar has been a longtime supporter of Bitpanda, participating in multiple funding rounds. One Trading, which was formerly known as Bitpanda Pro, officially spun off from Bitpanda in 2023, focusing on regulated crypto trading.
In 2023, SC Ventures also made waves by forming a joint venture in the United Arab Emirates with SBI Holding, a Japanese conglomerate. This year, Standard Chartered has been actively involved in expanding its cryptocurrency services, with Mox Bank, its Hong Kong subsidiary, introducing crypto exchange-traded fund (ETF) trading in Hong Kong. The bank also partnered with Crypto.com in Singapore to provide fiat services in the UAE and teamed up with Brevan Howard to launch crypto custody services in the region.
