Blockchain.com Eyes IPO That Could Take Place as Soon as This Year

Blockchain.com is interviewing banks with a view to taking the firm public in the United States.

According to a Bloomberg report, the London-based cryptocurrency exchange was in talks with multiple banks to decide the most appropriate to serve as an intermediary between it and investors.

Last month, Blockchain.com closed a funding round that saw it double its valuation from $5.2 billion to $14 billion. The funding round was led by Lightspeed Venture Partners, leading to speculation of an impending IPO.

However, despite the moves from the company, some insiders are of the opinion that the IPO might not take place until next year. 

Blockchain.com recently announced the acquisition of Altonomy’s over-the-counter trading desk and a first-of-a-kind sponsorship deal with the Dallas Cowboys.

It also launched an asset management platform in partnership with Altis Partners aimed at institutional and high net worth investors.

With the completion of an IPO, Blockchain.com will join an exclusive list of publicly-traded cryptocurrency firms like Coinbase Global and Block Inc, among others. 

Coinbase went public in 2021 with a valuation of almost $100 billion and analysts are paying keen attention to see if Blockchain.com can raise similar figures.

Cathie Wood, CEO of Ark Invest, had previously tipped Coinbase to outperform Blockchain.com in an interview with CNBC. “Coinbase is a far better, well-diversified, and better-managed company,” she said.

Blockchain.com is one of the oldest cryptocurrency exchanges in the space and has been in operation since 2011. The exchange has processed over $1 trillion in transactions with a healthy mix of both retail and institutional traders on the platform.

The company is one of the U.K.’s highest-profile crypto companies. Former Prime Minister David Cameron opened the firm’s east London office in 2019, saying: “It’s great to be at the start of a revolution here in London, I hope you keep this revolution going.”

Binance.US, the American branch of the largest cryptocurrency exchange in the world, has also suggested it will go public.

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