Thiel-Backed Crypto Exchange Bitpanda Explores Options
- Citigroup, JPMorgan are working with the Austrian firm
- Alternatives being considered include IPO and a sale
Should Bitpanda decide to proceed with a deal, it’s likely to happen next year.
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Bitpanda GmbH, a cryptocurrency trading platform backed by billionaire Peter Thiel, is exploring options including a potential initial public offering in Frankfurt, according to people familiar with the matter.
The Vienna-based company is working with Citigroup Inc. and JPMorgan Chase & Co. and could also consider selling itself, the people said. Any deal could value Bitpanda at $4 billion or more, one of the people said, asking not to be identified as the information is private.