Summary
- Blockchain.com, a cryptocurrency exchange based in the U.K., is aiming for an initial public offering in the U.S.
- Specifics regarding the amount it intends to raise and the share pricing remain undisclosed.
- Previously valued at up to $14 billion, the company joins a rising number of crypto entities planning to go public.
Blockchain.com has made a confidential filing for its initial public offering in the U.S., as the company announced on Thursday.
The exchange has not yet revealed details about the number of shares or the anticipated price range for the offering.
Founded in 2011, Blockchain.com has enabled the creation of over 100 million cryptocurrency wallets and has processed transactions totaling $1 trillion, according to its website.
By pursuing a public listing, Blockchain.com joins other crypto companies such as Kraken, hardware wallet manufacturer Ledger, and Consensys, the developer of MetaMask, all of which have indicated intentions to go public.
This move comes on the heels of several successful public offerings by crypto firms last year, including the highly successful debut of stablecoin issuer Circle (CRCL), whose shares surged over 168% on its first trading day.
Other companies in the sector, like the exchanges Gemini (GEMI) and Bullish (BLSH), as well as blockchain lender Figure Technologies (FIGR), have also recently made public listings, contributing to the trend of crypto companies becoming publicly traded entities.
While both Gemini and Bullish swiftly achieved public valuations exceeding $4 billion, their trajectories have diverged since then; GEMI is currently valued at under $700 million, whereas BLSH is trading close to $36.25, slightly below its IPO price of $37 per share, reflecting an intraday market cap of around $5.94 billion, according to Yahoo Finance data.
It remains to be seen how Blockchain.com, a partner of the Dallas Cowboys, will compare to its rivals in the exchange sector, especially considering it was once valued at as much as $14 billion.
Earlier in the year, the company received authorization from U.K. financial regulators to provide services to customers in the country.
A spokesperson for Blockchain.com did not immediately respond to Decrypt’s request for further details.
Editor's note: This article was amended post-publication to clarify that Blockchain.com continues to partner with the Dallas Cowboys.