Bitpanda, the Vienna-based cryptocurrency trading platform, is preparing for an initial public offering (IPO) in Frankfurt as early as the first half of 2026, according to sources familiar with the matter. The company is targeting a valuation range of €4 billion to €5 billion. Bitpanda has reportedly engaged Goldman Sachs Group Inc., Citigroup Inc., and Deutsche Bank AG as underwriters for the IPO. While the listing could occur as soon as the first quarter, the timeline and details of the offering are not yet finalized and may be subject to change.