Uphold, a U.S.-based cryptocurrency exchange with strong support among XRP users, is exploring a potential initial public offering (IPO) or sale, according to CEO Simon McLoughlin.
The move comes shortly after the company’s high-profile promotional push in Las Vegas, where it sought to deepen its appeal to American crypto consumers.
McLoughlin confirmed to The Block that the company’s board has appointed FT Partners to explore strategic options. These include either taking the company public in the U.S. or pursuing a trade sale to a larger financial or payments firm.
“We’re currently being courted by a number of banks, brokers, financial institutions and payment firms,” McLoughlin said Monday, adding that both options—IPO or acquisition—are being considered.
While the CEO declined to disclose a valuation, a person familiar with the discussions estimated it to be north of $1.5 billion. FT Partners has not commented on the matter.
The potential IPO or acquisition reflects growing institutional interest in regulated crypto platforms, particularly those with strong brand loyalty among specific asset communities like XRP. Uphold’s next steps could mark a significant milestone not just for the company, but for broader crypto capital markets.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/crypto-exchange-uphold-explores-ipo-or-sale-as-interest-grows-from-financial-institutions/