Bitpanda’s Bold Leap Amidst Soaring Crypto Market: Potential IPO Imminent?

Bitpanda

The post Bitpanda’s Bold Leap Amidst Soaring Crypto Market: Potential IPO Imminent? appeared first on Coinpedia Fintech News

In a fascinating twist for cryptocurrency enthusiasts, Bitpanda GmbH, a trading platform backed by billionaire Peter Thiel is gearing up for a major transformation. According to a recent Bloomberg report, they’re eyeing a potential initial public offering (IPO) in Frankfurt, as revealed by insiders.

The Vienna-based company is currently collaborating with heavyweights Citigroup Inc. and JPMorgan Chase & Co., and could also consider selling itself. This move could see Bitpanda valued at a staggering $4 billion or more. While discussions are going on, no final decisions have been made yet, and there’s always the chance the company could hold off on any transaction.

Cryptocurrencies have rallied this year after US regulators approved spot Bitcoin exchange-traded funds, making digital-asset companies more appealing to potential investors. Additionally, the prospect of a pro-crypto Republican candidate, Donald Trump, gaining traction in the upcoming US presidential election has further fueled market optimism.

Bitpanda has established itself as a go-to platform for retail trading in crypto, equity derivatives, and commodities. It attracted significant attention when it was valued at $4.1 billion in August 2021, following a hefty $263 million funding round that included investments from Thiel’s Valar Ventures and billionaire financier Alan Howard.

Going ahead, Bitpanda is already projecting a record profit in 2024, with over €100 million ($108 million) in revenue reported for just the Q1 of this year. After navigating losses exceeding €130 million in 2022, they managed to secure a €13.6 million pre-tax profit last year. The company is also enhancing its services; recently announcing the provision of Deutsche Bank IBANs for clients in Germany to streamline real-time transfers to and from their brokerage accounts.

With an exciting future on the horizon, all eyes will be on Bitpanda as they explore their next big move in the ever-evolving crypto landscape!

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Latest posts

post-thumbnail
Crypto Manipulation Exposed: ‘Zopp0’ and Influencers Accused of Promoting Shady Projects
The post Crypto Manipulation Exposed: ‘Zopp0’ and Influencers Accused of Promoting Shady Project...
READ MORE
post-thumbnail
Bitcoin ETFs See $2.22B Inflow, Third-Largest on Record
The post Bitcoin ETFs See $2.22B Inflow, Third-Largest on Record appeared first on Coinpedia Fintech...
READ MORE
post-thumbnail
Metawin Crypto Casino Loses $4M in Hot Wallet Hack, Funds Replenished
The post Metawin Crypto Casino Loses $4M in Hot Wallet Hack, Funds Replenished appeared first on Coi...
READ MORE
post-thumbnail
Crypto Market Braces for $349M Token Unlocking Event 
The post Crypto Market Braces for $349M Token Unlocking Event  appeared first on Coinpedia Fintech ...
READ MORE
post-thumbnail
Whale Bets $5M on Harris Ahead of U.S. Election
The post Whale Bets $5M on Harris Ahead of U.S. Election appeared first on Coinpedia Fintech News Wi...
READ MORE
post-thumbnail
Circle Eyes Hong Kong Expansion Amid Stablecoin Growth Plans
The post Circle Eyes Hong Kong Expansion Amid Stablecoin Growth Plans appeared first on Coinpedia Fi...
READ MORE
Read more posts