Austria-based exchange Bitpanda is exploring the possibility of going public on the Frankfurt stock exchange.
The exchange is reportedly collaborating with major financial institutions, Citigroup Inc. and JPMorgan Chase & Co., to evaluate options.
Bitpanda Joins a Growing List of Crypto Firms Planning IPO
According to Bloomberg reports, Bitpanda is also considering a sale if its IPO plans do not pan out. If a deal proceeds, the exchange could be valued at $4 billion or more.
Any IPO or sale decision, if pursued, is likely to take place next year, though discussions are still in progress. However, no commitment has been made.
Read More: Top 5 Crypto Companies That Might Go Public (IPO) in 2024
These considerations come on the back of what could potentially be the exchange’s most profitable year. In May, Bitpanda projected record-breaking profits for 2024. It reported over $108 million in revenue in the first quarter of this year.
The trend of crypto companies going public has gained momentum throughout this year. This is largely due to the growing Institutional interest in cryptocurrencies, fueled by the popularity of Bitcoin ETFs.
Most notably, stablecoin issuer Circle recently moved its headquarters to the U.S. in anticipation of a possible IPO. Circle’s CEO stated the company is in a strong financial position and does not require additional funding prior to going public.
“Circle CEO Jeremy Allaire confirmed that the company remains committed to its IPO path, emphasizing strong financials and no immediate need for additional funding. Despite regulatory uncertainty, Allaire expressed confidence in USDC’s utility a
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Author: Mohammad Shahid
