Bullish, a digital asset exchange backed by billionaire Peter Thiel, has taken its first step toward going public.
According to the Financial Times, the company recently submitted confidential IPO documents to the U.S. Securities and Exchange Commission.
The report cited two sources familiar with the filing. A confidential submission allows Bullish to prepare for listing without revealing financials too early.
Jefferies Expected to Lead Bullish’s IPO Process
Jefferies will reportedly serve as the lead underwriter for the offering. The timeline for the IPO remains undisclosed.
Filing confidentially gives Bullish the option to test investor interest while maintaining privacy around its performance metrics.
Regulated Exchange Holds Tier-1 Licenses Globally
Bullish describes itself as a fully regulated and audited exchange. According to its website, it holds top-tier licenses and operates on a global scale.
The IPO effort follows a wave of institutional interest in crypto platforms seeking legitimacy in public 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/thiel-backed-exchange-moves-toward-public-listing/