Bitpanda Opens Global Exchange, Plans IEO to Sell BEST Tokens
Bitpanda plans to open a new global trading ecosystem, complete with a native token, BEST.
The Bitpanda Global Exchange will be integrated with the Bitpanda brokerage, and verified European users will still have a complete fiat service in Swiss franc, euros, or British pounds. All assets available through Bitpanda will also move to the global exchange, including the PAN token. The new platform will accelerate the addition of new types of coins and tokens.
The initial exchange offering (IEO) for BEST tokens will start on June 9. The token will be available through the brokerage and the exchange on August 7. The offering of Bitpanda arrives at a time when IEO sales have slowed down, as major exchanges are more conservative about token sales. In addition to the IEO, Bitpanda users and holders of the PAN token will receive an airdrop of BEST.
The BEST token will offer a 25% trading fee reduction for using it in trading pairs. The token will also go through regular burns to distribute gains, comparable to the model of Binance Coin (BNB).
Bitpanda will distribute a digital asset for a second time, after performing an airdrop for an earlier token, Pantos (PAN). For now, the role of PAN is uncertain, and the token trades on a single exchange. The news of the BEST token airdrop and sale boosted the price of PAN on Bitpanda by 66% in one day, to 0.04 euro.
The BEST digital asset will be offered at the IEO for 0.01 euro.
Since its inception in 2014 under the “Coinimal” brand, Bitpanda expanded its listings almost constantly. The brokerage offers custodial wallets for both cryptocurrency and digital assets, as well as multiple payment options. For larger-scale purchases or sales of digital coins, the platform performs complete user verification.