According to industry rumors, European crypto exchanges are quite active. Insiders reveal that Bitpanda, supported by Silicon Valley investor Peter Thiel, is actively preparing for an IPO.

This Vienna-based exchange aims to list on the Frankfurt Stock Exchange in the first half of 2026, with a target valuation set between 4 billion and 5 billion euros (approximately $4.66 billion to $5.82 billion). Interestingly, Goldman Sachs, Citigroup, and Deutsche Bank have been invited to serve as underwriters for this IPO, making for a notable lineup. However, these figures are not final, and the ultimate valuation and specific timeline may be adjusted.

It is understood that Bitpanda initially considered going public in London, but later found the liquidity on the London Stock Exchange to be less than ideal, and ultimately abandoned the plan. Co-founder Eric Demuth previously stated that their options were either New York or Frankfurt—just these two choices.

Another important reason they ultimately chose Frankfurt was their relationship with Deutsche Bank. The two parties have publicly announced that they will jointly launch cryptocurrency custody services in 2026, leveraging traditional financial institutions to support this business. This partnership framework has actually paved the way for the entire listing process.