Bitpanda reportedly exploring options, including IPO

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As a seasoned crypto investor with a keen eye for promising ventures and a knack for spotting trends, I find the news about Bitpanda intriguing. Having witnessed the meteoric rise of various cryptocurrency platforms over the years, I can’t help but feel a sense of anticipation when it comes to this Austrian exchange backed by none other than Peter Thiel.

According to a Bloomberg report, cryptocurrency trading and exchange platform Bitpanda – which has the backing of billionaire Peter Thiel – is considering various strategic possibilities.

On October 28th, I came across an article mentioning that Bitpanda, an Austrian cryptocurrency exchange, is exploring various possibilities, one of which could be going public. Insiders close to the situation suggest that an Initial Public Offering (IPO) might take place in Frankfurt.

Companies associated with the cryptocurrency firm based in Vienna are known to include financial heavyweights like Citigroup Inc. and JPMorgan Chase & Co. It’s important to note that Bitpanda has not yet disclosed any specific details about the reported possibilities. However, according to Bloomberg sources, a potential sale could be one of the options being considered, along with an Initial Public Offering (IPO).

Sale option

The potential acquisition of the cryptocurrency exchange, established in 2014 by Eric Demuth, Paul Klanschek, and Christian Trummer, is expected to value the company at over $4 billion.

As per the latest findings, it’s speculated that this scenario might become reality in the year 2025. Yet, it’s important to note that while negotiations regarding this plan are still underway, there’s a chance Bitpanda could decide to call off the proceedings. Notably, these rumors of a possible sale emerged approximately half a year after Robinhood made its $200 million purchase of Bitstamp public.

In August 2021, Bitpanda successfully secured $263 million in funding, which valued the company at an impressive $4.1 billion. This round of financing was backed by Peter Thiel’s Valar Ventures, along with other notable investors.

On the company’s website, it’s shown that the team consists of over 70 individuals from about 50 different countries, and their customer base has expanded to surpass 5 million users. Beyond cryptocurrencies, Bitpanda facilitates trading in stocks, exchange-traded funds, crypto indices, and commodities as well.

As a crypto investor, I’m proud to be part of this platform that boasts a license from Germany’s BaFin and has secured a virtual asset service provider approval in Norway. Additionally, we have formed strategic partnerships with esteemed institutions such as German lender Deutsche Bank for seamless crypto payments, and RAKBANK, a respected state-backed bank in Dubai, which we announced in August 2024.

As a researcher, I find it noteworthy that Bitpanda Custody’s services are now available for exchange within the United Kingdom, backed by necessary regulatory approval to function effectively across the European Union. The European Union is progressing towards the full enforcement of its Markets in Crypto Assets (MiCA) regulation, which underscores a growing commitment to regulating and fostering the growth of the digital asset sector.

As a researcher, I find it significant that the Markets in Crypto-Assets (MiCA) regulations commence their application for stablecoins on June 30, 2024, with complete enforcement set to begin on December 30, 2024.

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2024-10-28 21:10