- Blockchain.com is set to become the second crypto exchange to launch an IPO in the US.
- The Miami-based crypto exchange’s current value reached around $14 billion.
- Binance.US also plans on going public as soon as it can show independence from the main exchange.
Crypto exchange Blockchain.com has started interviewing American banks for an initial public offering (IPO) that could take place as early as this year.
Blockchain.com is a cryptocurrency exchange and financial services firm that began as the first Bitcoin block explorer in 2011 and later created a popular crypto wallet application.
On April 19, Bloomberg reported that the conversation was a preliminary talk. However, the plans of the exchange could alter at any time.
Notably, if the IPO becomes successful, Blockchain.com will be the second crypto exchange in the US to pull off the feat. Coinbase (NASDAQ:COIN) was the first to go public in 2021 with an opening price of $381 per share of the coin and a valuation of nearly $100 billion. In contrast, Blockchain.com has a current value of about $14 billion following a funding round with global venture capital firms.
The race to be the second public crypto exchange in the US is now on, as Binance.US has announced its intentions to do the same. According to Binance CEO, Changpeng Zhao (CZ), Binance.US also plans on going public as soon as it can show independence from the main exchange.
Additionally, Binance’s efforts gained it $200 million in funding, awarding the exchange with a pre-money valuation of $4.5 billion.
Binance.US CEO Brian Shroder claims that the firm has a strong business and is working with local regulators to ensure it can be listed without complications.
In other words, regulatory complications have been the main obstacle keeping crypto exchange juggernauts from going public in the U.S.