Blockchain.com nears IPO following $14bn valuation
Crypto exchange reportedly in talks with US banks about potential initial public offering
Blockchain.com is reportedly in talks with US banks to explore how it could facilitate an initial public offering (IPO), according to a Bloomberg report citing sources familiar with the matter.
Depending on whether the crypto exchange faces any complications from going public in the US, the IPO could come as soon as this year.
Founded in 2011, Blockchain.com is currently led by CEO and co-founder Peter Smith, and claims to have 37 million verified users globally with 82 million registered crypto wallets in more than 200 countries. It’s one of the oldest crypto exchanges operating in the sector and claims to have more than $1trn transacted through its platform.
The start-up competes alongside crypto exchange platforms such as Coinbase, Crypto.com and Binance.
Hitting decacorn valuation
Earlier this month, Blockchain.com raised an undisclosed amount in a Series D funding round which pushed the firm’s valuation past decacorn status to a staggering $14bn. The round was led by Lightspeed Venture Partners and UK-based investment manager Baillie Gifford.
Following the Series D round, Blockchain.com became one of the most valuable crypto companies in the world.
The round comes just a few months months after Fortune reported that the crypto exchange is looking to raise $400m in a Series D round at an $18bn to $20bn valuation. The company raised $300m in a Series C round in March 2021 at a $5.2bn post-money valuation.
If the firm’s IPO plans go ahead, Blockchain.com would become the second crypto exchange to go public in the US as it competes with Binance.US which is attempting to do the same.