Austria-based crypto trading platform Bitpanda is planning a potential initial public offering in Frankfurt in the first half of 2026.
The company is targeting a valuation of between €4bn and €5bn, equivalent to about $4.7bn to $5.5bn, according to a Bloomberg report.
The IPO could take place as early as the first quarter of 2026, although the timing remains subject to change.
Bitpanda is reportedly working with Citigroup, Goldman Sachs and Deutsche Bank on the potential listing.
Founded in 2014, the Vienna-based platform provides digital asset and investment services to more than seven million users across Europe.
In 2021, Bitpanda raised $263m in funding, securing a valuation of $4.1bn and becoming one of Austria’s first unicorn startups.
The company has expanded its European presence, securing a MiCA licence from Germany’s financial regulator earlier this year.
Bitpanda also received approval from the UK’s Financial Conduct Authority to offer more than 500 crypto assets.
Co-founder Eric Demuth previously said London was ruled out as a listing venue due to liquidity concerns, with Frankfurt or New York preferred.
Several digital asset firms are positioning for IPOs in 2026, reflecting renewed interest in public markets despite mixed crypto listings in 2025.