Vienna-based cryptocurrency exchange Bitpanda is considering an initial public offering in Frankfurt.
Financial giants Citigroup and JPMorgan Chase are leading the move, providing guidance to Bitpanda on possible options, including a sale.
Bitpanda’s potential IPO listing is expected to value it in excess of $4 billion. It was last valued at $4.1 billion in August 2021 after a major investment round led by billionaire Peter Thiel’s Valar Ventures and backed by Alan Howard and REDO Ventures.
Interest in an IPO or sale has been driven by the regulatory approval of a Bitcoin ETF and subsequent success of the product. Bitcoin, which just topped $70,000, also reflects the strength of the market this year.
US cryptocurrency exchange Kraken is also considering the possibility of an IPO, and Thai cryptocurrency exchange Bitcub is aiming for an IPO in 2025.
Kraken enters $100 million discussions before IPO, possible year-end completion
Kraken has been talking about an IPO for years, but clashes with the SEC may have set back its ambitions
Bitkub soars to $3 billion valuation ahead of planned IPO
Thailand’s top crypto exchange Bitcub has seen its IPO valuation soar to $3 billion, demonstrating strong investor confidence in Southeast Asia’s crypto market.
Founded in 2014, Bitpanda initially focused on cryptocurrency trading, but now also offers equity derivatives and products. The company expects to report revenue of more than 100 million euros in early 2024, a turnaround from a loss of 130 million euros in 2022, and record profits this year.
“We are able to withstand extended bear markets and scale significantly with high margins during bull markets,” Bitpanda founder and CEO Eric Demuth said in May.
Earlier this year, Deutsche Bank and crypto broker Bitpanda teamed up to offer real-time payment solutions to German customers.
Deutsche Bank was already working with Bitpanda by providing support for Bitpanda’s operational needs as the European House Bank for cross-currency solutions in Austria and Spain.
Bitpanda’s institutional expansion: Partnering with Deutsche Bank on real-time payment solutions
Deutsche Bank and Bitpanda are expanding their partnership to streamline payments for users in Germany
Through this partnership, Bitpanda gained access to Germany’s IBAN through an API-based solution. This improves speed and efficiency, streamlining and enhancing the user experience.
