Blockchain.com has filed for an IPO in the U.S., aiming to join the growing list of crypto firms going public. Specifics on shares and pricing are not yet revealed.
Overview
- Blockchain.com, a U.K.-based cryptocurrency exchange, is seeking an initial public offering in the United States.
- Details on the fundraising target and share pricing have not been disclosed.
- Previously valued at up to $14 billion, the company is part of a growing trend of crypto firms looking to go public.
Blockchain.com has initiated a confidential filing for its initial public offering (IPO) in the U.S., announced on Thursday.
The exchange has yet to provide specifics regarding the number of shares or the expected price range for the IPO.
Founded in 2011, Blockchain.com has facilitated the creation of over 100 million cryptocurrency wallets and processed transactions exceeding $1 trillion, according to its official website.
By moving towards a public listing, Blockchain.com aligns itself with other notable crypto companies, including Kraken, ledger manufacturer Ledger, and Consensys, the creator of MetaMask, all of which are pursuing similar paths.
This development follows a series of successful public offerings in the crypto space last year, highlighted by Circle (CRCL), a stablecoin issuer whose shares jumped over 168% on its debut trading day.
Other companies like Gemini (GEMI) and Bullish (BLSH) have also recently gone public, contributing to the trend of crypto firms entering the public market. While both Gemini and Bullish quickly surpassed public valuations of $4 billion, their fortunes have diverged; GEMI is currently valued at under $700 million, while BLSH trades near $36.25, slightly below its IPO price of $37 per share, with an intraday market cap around $5.94 billion, according to Yahoo Finance data.
As a partner of the Dallas Cowboys, Blockchain.com’s upcoming IPO will be closely watched to see how it performs against its competitors in the exchange market, especially given its previous valuation of up to $14 billion.
Earlier this year, the company received approval from U.K. financial regulators to operate in the country.
A spokesperson for Blockchain.com did not respond to requests for additional information from Decrypt.
