Blockchain.com is trying to complete an IPO before Binance.US to become the second crypto exchange to go public in the United States. For that, Blockchain.com is constantly in talks with major American banks.
According to sources, the conversations were merely preliminary, and the internet startup’s plans may change at any time. If it is successful, it will be only the second crypto exchange in the United States to go public through an IPO.
Coinbase was the first to go public in 2021, with a market capitalization of around $100 billion and an initial share price of $381 per COIN. Following an investment round with global venture capital companies, Blockchain.com is now valued at over $14 billion.
Blockchain.com is a bitcoin financial services firm that launched in 2011 as the first Bitcoin block explorer and eventually developed a popular cryptocurrency wallet application.
The competition to become the second public crypto exchange in the United States has begun. According to Binance’s founder Changpeng Zhao, Binance.US, the American branch of the world’s largest crypto exchange, aims to go public as soon as it can establish independence from the parent exchange.
A recent $200 million initial round of fundraising has aided the exchange’s operations, giving it a pre-money worth of $4.5 billion. Binance.US CEO Brian Shroder said the company has a robust business and is working with local regulators to ensure a smooth listing. The major impediment to crypto exchange juggernauts going public in the United States has been regulatory hurdles.
