Crypto Unicorn Blockchain.com Has its Eyes on the Public Market
Luxembourg based digital currency exchange Blockchain.com is mulling the plans to conduct an Initial Public Offering (IPO) in a move to become a publicly traded company. As reported by Fortune, drawing on Macrina Kgil’s interview with Forbes, the company is looking at the possibility of conducting the IPO in 2023.
Macrina who is the Chief Financial Officer for the company has been quite vocal about the firm’s growth in recent times. In a blog post shared today, she noted that the company has exceeded $1 trillion in total cash transactions processed by the firm, a performance that re-emphasizes the firm’s pioneering dominance in the crypto world.
According to Macrina, the company has “handled nearly a third of all bitcoin network transactions since 2012, with the majority of all transactions processed through Blockchain.com Wallets taking place over the past 2 years.”
“These numbers don’t reflect what’s bought and sold on our exchange, but rather real usage of crypto: instantly sending value across the world as easily as sending an email.”
The exchange has maintained its course for the past three years, and the move into the public market niche will further expand its presence as a unicorn with a $5.2 billion valuation. This mammoth growth is further complemented with a large retail user base with over 76 million active wallets.
More Crypto Unicorns Eyeing Public Debuts
The digital currency ecosystem went agog when Coinbase Global Inc went public earlier in the second quarter of this year via direct listing on the Nasdaq. The emergence of the exchange which earned it an $85.8 billion market cap sent the feeling of possibility across the nascent industry.
Following Coinbase, a number of crypto trading platforms including eToro, and Kraken have also expressed interests in pursuing public market listings. While not a primarily crypto focused outfit, Robinhood has also benefited from the impacts of digital currencies, even as it got listed on Nasdaq back in July
The hint given by the Blockchain.com executive will serve as a testament to the sustainable growth on record by trading platforms around the world.Source