New York, Monday, November 04, 2024 – Bitpanda, a leading European cryptocurrency exchange, is reportedly weighing significant options for its future, including a potential initial public offering (IPO) in Frankfurt or a sale of the company.
The Austrian firm is currently collaborating with major financial institutions Citigroup and JPMorgan to evaluate these possibilities, according to a Bloomberg report citing sources familiar with the matter.
Should a deal materialize, it could value Bitpanda at a minimum of $4 billion, with final decisions expected as early as 2025.
However, publicly available reports indicate that ongoing discussions could lead to no transaction at all. Neither Bitpanda, Citigroup, nor JPMorgan has commented on the speculations.
Founded in 2014, Bitpanda has become a prominent player in the cryptocurrency sector, boasting high-profile backers such as billionaire investor Peter Thiel.
In 2021, the exchange raised $263 million at a valuation of $4.1 billion, with notable investors like Thiel’s Valar Ventures and hedge fund manager Alan Howard participating in the funding round.
This year has been particularly eventful for Bitpanda.
In the first quarter, the exchange reported $108 million in revenue and projected a record profit for the year, rebounding from over €130 million in losses in 2022. In August, Bitpanda introduced security tokens as new investment vehicles, starting with Steelcoin, which tracks the value of selected steel products.
