Global cryptocurrency exchange and block explorer Blockchain.com is reportedly in talks with American banks to explorethe possibility of holding an initial public offering (IPO).
In August 2021, the CFO of Blockchain.com stated that the company would go public in “18 months,” however, reports suggest that an initial public offering could take place as early as this year.
Blockchain.com Prepares for Public Offering
According to sources familiar with the situation, Blockchain.com is only in preliminary conversations with banks, and plans could change at any time.
However, it was remarked that the crypto startup could go public as early as this year should the talks prove to be fruitful.
Blockchain.com is currently valued at approximately $14 billion, following a Series D round last month. If the exchange succeeds with its IPO, it would become only the second crypto exchange in the U.S. to attain public status, following the path paved by Coinbase (NASDAQ:COIN), which went public in April 2021.
In April, Blockchain.com launched an asset management service aimed towards institutional and high net worth investors just weeks after acquiring Altonomy’s over-the-counter (OTC) trading desk.
On the Flipside
- Regulatory complications have kept crypto exchanges from going public, and Blockchain.com is in competition with Binance.US to become the second crypto exchange to go public in the U.S.
Why You Should Care
Successful IPOs from exchanges like Blockchain.com could indicate renewed investor confidence and an influx of new players into the crypto market.
