The post Bitpanda Collaborates With Citi And JPMorgan Amidst IPO Talks appeared on BitcoinEthereumNews.com.

Bitpanda GmbH, a Vienna-based digital asset trading platform backed by billionaire Peter Thiel, is exploring strategic options, including a potential initial public offering (IPO) in Frankfurt. According to sources familiar with the matter, the company is working closely with Citigroup Inc. and JPMorgan Chase & Co. as it evaluates its next steps. Bitpanda Weighs IPO Options with Citi, JPMorgan Amid Crypto Market Surge The Austria-based exchange, Bitpanda, established in 2014, is evaluating opportunities for a public listing, capitalizing on the crypto market’s renewed interest. The firm has enlisted Citigroup Inc. and JPMorgan to guide its potential IPO process, which could take place in Frankfurt.  Additionally, sources suggest that a valuation exceeding $4 billion is possible, with any move likely to happen in 2025. The company is also keeping the option of a possible sale open, while ongoing deliberations mean that plans may change. The company’s IPO considerations align with positive trends in the digital assets sector, notably the recent approval of spot Bitcoin ETFs in the U.S. There’s also speculation that a Republican-led administration could take a more crypto-friendly stance. Winning Donald Trump odds have recently driven digital asset inflows to $2.2 billion, boosting crypto market optimism.  Donald Trump’s odds against Kamala Harris have continued to rise, largely fueled by his pro-crypto stance. Current Polymarket data shows Trump leading with 66.1% to Harris’s 34%, just seven days before the U.S. elections. Positive Financial Results Enhance Appeal Earlier this year, the company announced a forecast of record profits for 2024, driven by strong performance in the first quarter. The platform generated more than €100 million ($108 million) in revenue during the first three months, reflecting solid demand for its trading services in digital assets, equity derivatives, and commodities.  Additionally, in 2023, Bitpanda achieved a pre-tax profit of €13.6 million, recovering from…

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Filed under: News - @ October 28, 2024 9:22 pm