JAKARTA – Crypto trading platform giant Blockchain.com is rumored to be conducting an initial public offering (IPO) in the near future. The information emerged after Blockchain.com held talks with a number of banks in America to go public.
Bloomberg reports that a source familiar with the situation said the talks were just initial conversations and the tech startup's plans could change at any time.
According to Cointelegraph, if it manages to go public with an IPO, it will be the second crypto exchange in the US to do so. Coinbase has become the first crypto exchange to go public in 2021 with an opening price of $381 per COIN share at a valuation of nearly $100 billion.
Blockchain.com is currently valued at around US$14 billion following a funding round with a global venture capital firm. Blockchain.com is a cryptocurrency financial services company that started as the first Bitcoin block explorer in 2011 and later created the popular crypto wallet app.
A number of crypto exchanges in the US are currently competing to become the second crypto exchange after Coinbase to conduct an IPO. Therefore Blockchain.com has to compete with Binance.US which is also planning to do the same.
Strict regulations in the US are a barrier for crypto exchanges there to go public. Binance.US CEO Brian Shroder assesses that the company has a strong business and is working with local regulators to ensure that the US branch of Binance can be listed on the stock exchange.
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