Austrian cryptocurrency exchange Bitpanda is reportedly eyeing a potential initial public offering (IPO) in Frankfurt, Germany.
It will supposedly value the exchange at no less than $4 billion if it materializes.
Crypto Exchange Has Tapped Citigroup and JP Morgan
News of the potential move was first reported by Bloomberg on October 28, with the business publication quoting unnamed sources for its story.
According to the report, an IPO is one of several options the exchange is considering, and Citigroup and JP Morgan have been appointed to advise on the process. However, nothing has been set in stone just yet, with Bloomberg suggesting that the company could also decide against going ahead with the plan.
Bitpanda was founded in 2014 to offer crypto retail trading and equities derivatives. It raised more than $260 million in a 2021 funding round that included participation from billionaire investor Peter Thiel’s Valar Ventures. At the time, the company was valued at $4.1 billion.
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