Bitpanda, a cryptocurrency trading and exchange platform based in Austria, is contemplating various strategic options for its future, as reported by Bloomberg. The company, founded in 2014 by Eric Demuth, Paul Klanschek, and Christian Trummer, is considering the possibility of going public through an initial public offering (IPO) in Frankfurt.
In addition to the potential IPO, another option being considered by Bitpanda is a sale of the company. Sources familiar with the matter suggest that a sale could result in a valuation of $4 billion or more. While discussions regarding these strategic decisions are ongoing, the company has not officially confirmed any details.
Bitpanda has garnered significant attention and investments, including $263 million raised in August 2021 at a valuation of $4.1 billion. The company has received backing from prominent investors such as Peter Thiel’s Valar Ventures. With a diverse team of over 70 members from 50 different nationalities, Bitpanda has amassed a customer base of more than 5 million users.
Beyond cryptocurrency trading, Bitpanda offers a range of financial products including stocks, exchange-traded funds, crypto indices, and commodities. The platform is licensed by Germany’s BaFin, approved as a virtual asset service provider in Norway, and has partnered with Deutsche Bank for crypto payments. Additionally, Bitpanda has collaborated with RAKBANK, a state-backed bank in Dubai, to expand its services.
Bitpanda Custody, the company’s custody solution, is available in the United Kingdom and holds regulatory approval to operate within the European Union. This comes at a crucial time as the EU moves towards full implementation of its Markets in Crypto Assets (MiCA) regulation. The MiCA rules, which began applying to stablecoins in June 2024, are set to take full effect on December 30, 2024.
Bitpanda’s potential IPO and sale options signify the company’s ambitions for expansion and growth in the increasingly competitive cryptocurrency market. As the company navigates these strategic decisions, investors and users alike will be closely watching to see how Bitpanda’s future unfolds in the evolving landscape of digital finance.
