Blockchain.com IPO: When is cryptocurrency exchange going public?

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Blockchain.com IPO: When is cryptocurrency exchange going public?

Blockchain.com
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Highlights 

  • Blockchain.com, a cryptocurrency financial services company, is planning to go public.
  • It was founded in 2011. It serves in more than 200 countries and has over 37 million verified users.
  • The company offers services such as earning interest, checking payment status, lending crypto, trading crypto, buying, and storing tokens in wallet etc. 

Blockchain.com, a cryptocurrency financial services company, is planning to go public and is interviewing banks for this purpose, Bloomberg reported citing people familiar with the matter on Tuesday.

Blockchain.com was founded in 2011. It serves in more than 200 countries and has over 37 million verified users. Its official website claims that one-third of the bitcoin transactions are done through Blockchain.com. 

Peter Smith is the co-founder and chief executive officer of the company.  

Also Read: When is blockchain company PrimeBlock going public?

In March this year, the company said that it was valued at around US$14 billion in the Series D funding round led by Lightspeed Venture Partners with major participation from Baillie Gifford and Co. 

The company offers its users to buy and store digital tokens in its wallet. It has more than 82 million wallets and has transacted more than US$1 trillion, according to its website. 

Major developments:

Last year, it moved its US headquarters from New York to Miami. In August 2021, Blockchain.com’s chief financial officer, Macrina Kgil, indicated an IPO in 2022 or early 2023.

In December, the Miami based crypto service company announced developing a marketplace for the non-fungible tokens. 

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Blockchain.com

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In March, the exchange acquired the over-the-counter (OTC) trading desk of Altonomy. 

This month, it cracked another deal where it became the official digital assets platform of the Dallas Cowboys, a popular sports team of the National Football League (NFL). This was NFL’s first deal with a digital currency platform.

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This month, it also launched an asset management platform, Blockchain.com Asset Management (BCAM), in partnership with Altis Partners to serve the institutional and high net worth investors. 

The company has been actively engaged in the crypto space for a decade of existence. The platform offers services such as earning interest, checking payment status, lending crypto, trading crypto, buying, and storing the token in a wallet etc. 

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Bottom line:

To date, only one crypto exchange, Coinbase (COIN), has got listed in the US in April 2021. Other crypto exchanges which plan to go public are Gemini, Kraken, and Binance.US. Analysts expect that Binance.US, an American subsidiary of Binance, could be the next one to get listed after reaching a valuation of US$4.5 billion. 

Blockchain.com is in the preliminary talks for going public as per the sources, but there is nothing confirmed from the company yet, and the IPO plans may change anytime.  

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