Bitpanda Targets Emerging Markets and Bank Partnerships as It Eyes IPO

Bitpanda Pursues Global Expansion via Banks and Tokenization

Bitpanda, the Vienna-based cryptocurrency broker, is accelerating its global expansion strategy by focusing on partnerships with banks and institutions, rather than competing directly with local crypto exchanges. According to Vishal Sacheendran, Bitpanda's VP of Global Markets Strategy and Operations, the company’s approach is designed to leverage existing financial infrastructure across emerging markets.

Strategic Focus on Institutional Partnerships

Bitpanda has announced the launch of Bitpanda Enterprise, a comprehensive platform providing crypto infrastructure, custody, and tokenization services tailored for banks, brokers, fintechs, asset managers, and corporate clients. This institutional offering builds upon the company’s previous B2B business unit—Bitpanda Technology Solutions—and integrates a suite of services including API-based investment infrastructure, institutional-grade custody, trading liquidity, settlement tools, and crypto payments.

The new enterprise platform also features token infrastructure to support stablecoin issuance and systems for tokenizing traditional assets. According to Sacheendran, this suite enables partners to efficiently launch digital asset services without developing internal platforms from scratch.

Expansion to Asia, Latin America, and the Middle East

With a strong retail presence in Europe, Bitpanda is now concentrating on growth in Asia, Latin America, and the Middle East—regions where regulators are demonstrating increased openness to crypto adoption. While the company’s retail operations remain anchored in Europe, its global push heavily involves working through banks and established financial institutions.

In certain emerging markets, launching a consumer app isn't always viable due to established competitors or regulatory landscape. "We don’t want to compete with exchanges everywhere. There’s a big segment of the market that still trusts banks," Sacheendran stated.

A notable example of this model is seen in the United Arab Emirates, where RAKBANK partnered with Bitpanda in July to facilitate crypto trading for retail customers. RAKBANK leveraged Bitpanda’s infrastructure, bypassing the need to build proprietary crypto solutions. Sacheendran noted that such collaborations can set a precedent, encouraging further adoption by other financial institutions in the region.

Regulatory Standing and Market Positioning

Bitpanda highlights its robust regulatory positioning as a compelling advantage for institutional partners. The firm operates under the European Union’s MiCA (Markets in Crypto-Assets) regulatory framework—recognized for its comprehensive standards—which strengthens the company's appeal in markets where authorities are still shaping their digital asset policies.

For example, the Asia-Pacific region presents unique regulatory challenges as standards vary widely between countries like Hong Kong, Singapore, Japan, and South Korea. Bitpanda intends to scale operations gradually in jurisdictions where both commercial and compliance prerequisites are met.

Focus on Tokenization and Infrastructure

On the product development side, Bitpanda is considering the introduction of derivatives trading, though regulations on such products differ significantly by region. Sacheendran anticipates tokenization to become increasingly prominent, specifically for traditional financial instruments such as bonds, money market funds, and real estate. He emphasized the potential of blockchain technology to offer round-the-clock trading and broaden investor accessibility.

Despite offering infrastructure for stablecoin issuance, Bitpanda does not plan to issue its own stablecoins. Instead, the company positions itself as a provider of support and operational tools for institutions that aim to launch their own digital assets.

Financial Performance and IPO Plans

As part of its strategy shift, Bitpanda is focusing on extending its geographic footprint rather than solely increasing user numbers. The firm recently reported €371 million ($430 million) in adjusted revenue for 2025, reflecting a 16% year-over-year increase. Its registered user base grew by 25% to 7.4 million users.

Looking ahead, Bitpanda is reportedly preparing for a potential Initial Public Offering (IPO) on the Frankfurt Stock Exchange as early as the first half of 2026. The company is targeting a valuation between EUR 4 billion and EUR 5 billion, positioning itself among other crypto firms moving towards public listings.