Bitpanda, the cryptocurrency trading platform based in Vienna and backed by billionaire Peter Thiel, is preparing for an IPO on the Frankfurt Stock Exchange that could value the company at up to €5 billion ($5.83 billion) in the first half of 2026, according to people familiar with the matter.
What happened: preparation for the IPO in Frankfurt
The Austrian crypto platform has mandated Goldman Sachs, Citigroup, and Deutsche Bank to organize the operation, which could take place as early as the first quarter, Bloomberg reported, citing sources who requested anonymity as the discussions are private.
The company could aim for a valuation between €4 billion ($4.7 billion) and €5 billion.
Founded in 2014, Bitpanda offers retail trading in Bitcoin, stock derivatives, and commodities.
The company claims more than seven million users and was valued at $4.1 billion in August 2021 when it raised $263 million from investors including Thiel's Valar Ventures.
A representative of Bitpanda stated that an IPO is one of the options being considered by the company, but declined to comment further. No definitive decision has been made and factors like the timeline may still evolve.
See also: Ethereum Holds $3,280 Level As Momentum Indicators Flash Warning Signs
Why it matters: a boost for the European market
The operation would represent a major success for the European equity markets, which struggle to attract large venture capital introductions in the cryptocurrency sector.
CEO Eric Demuth had previously considered New York but ruled out London last August.
He told the Financial Times that London offers less liquidity than other major markets, citing the example of European companies, including fintech giant Wise, that have chosen not to list there.
This decision comes amid a wave of IPOs in the crypto industry, as competitors like Kraken, FalconX, and Blockchain.com are all discussing IPO plans.
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