Peter Thiel-backed cryptocurrency trading platform Bitpanda GmbH is considering a potential IPO in Frankfurt. 

According to a recent Bloomberg report, the crypto trading company is working with Citigroup and JPMorgan Chase and Co. It is also considering the option of selling itself according to Bloomberg’s sources.

The incognito person of contact said that any deal could close with Bitpanda at $4 billion value or even more.

Any deal that Bitpanda decides to proceed with will most likely happen in the next year. However, the company’s decision is still in the early stages, and it can also opt not to proceed with the potential transactions.