The crypto exchange Blockchain.com has started talks with American banks to explore the possibility of an initial public offering (IPO) later this year.
As Bloomberg reported on Tuesday, citing internal sources , these talks are still in an early phase, which is why these plans could quickly be discarded.
However, if the blockchain company can implement the planned IPO, it would only be the second crypto exchange in the USA to go public successfully. Last year, leading crypto trading platform Coinbase was the first to make this move , with the company's own stock COIN opening trading at a strong $381 at a valuation of just under $100 billion.
Blockchain.com is currently valued at 14 billion US dollars after another round of financing was recently completed. The crypto financial service provider started out in 2011 as a so-called block explorer, before the service later launched what is probably one of the most popular crypto wallets on the market.
With these plans, the race for the title as the second listed crypto trading platform is on. Binance.US, the American offshoot of the market-leading crypto exchange Binance, is also planning an IPO in the near future. As Binance boss Changpeng Zhao explains, the platform must first prove that it acts independently of its big brother.
New investment capital of USD 200 million, which was also raised as part of a recent funding round, pushed Binance.US' company valuation to USD 4.5 billion .
Above all, regulatory hurdles are currently preventing the major crypto trading platforms in the USA from going public.
In this context, Binance.US boss Brian Shroder emphasizes that his company's business model is on solid ground and that it is already working closely with the supervisory authorities to complete this project as soon as possible.
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