Foresight News reported that the cryptocurrency trading platform Bitpanda GmbH is exploring various options including an IPO and sale, potentially conducting an initial public offering in Frankfurt. According to informed sources, Bitpanda is working with Citigroup and JPMorgan and may also consider a sale. A source who wished to remain anonymous indicated that the transaction could value Bitpanda at $4 billion or more. If Bitpanda decides to proceed with the transaction, it is likely to happen next year. The source stated that deliberations are ongoing, and the company may decide not to pursue the transaction. Representatives from Citigroup and JPMorgan declined to comment, while Bitpanda did not respond to requests for comment.
Bitpanda was founded in 2014 and provides retail trading of cryptocurrencies, stock derivatives, and commodities. In August 2021, it raised $263 million from investors including Thiel's Valar Ventures, billionaire financier Alan Howard, and REDO Ventures, with a valuation of $4.1 billion.