Blockchain.com decides to weigh its IPO (Initial Public Offerings) like several other crypto platforms. It follows the successful navigation of Coinbase’s trip to the public market earlier this week.
Blockchain.com is a London-based financial service company that provides crypto wallets. The clients can use the wallets to send, manage & receive popular cryptocurrencies. However, the service remains limited to bitcoin, ether & bitcoin cash.
The current funding counts $500MM since its founding in 2011. DST Global, VY Capital & Lightspeed Venture Partners led a notable contribution. It explicitly includes a $300MM round in March to value Blockchain at $5.2BN.
Peter Smith, CEO & Co-Founder of Blockchain.com, reveals its intention to go public. The startup will think of an IPO someday – Smith told Barron’s. Its authority carefully considers the public-market options without making a hurry. Of course, he likes to wait to observe the market situation.
Smith commented on its public listing possibility after Coinbase’s huge success on the market. He felt interested to see the response to Coinbase IPO. According to him, the event showed how the public market will receive crypto companies.
He also spoke on the difficulty in cryptocurrency understanding against its increasing awareness. Blockchain.com is yet to reach the point regarding internet use – he said. Despite the improvement, he believes to go a little further on the issue.
“Coinbase achieved huge market success on public listing” (Credit – Vox.com)
Coinbase went public on Wednesday to raise its shares by 32% on debut. The stock experienced an additional 6% gain to reach $342 market value. And the exchange becomes worth $89.36BN at its peak before dropping.
Blockchain.com is the latest company to consider going public. Kraken, one of the oldest platforms to provide a crypto exchange, also contemplates a listing. Even Gemini, a Cameron-based crypto exchange, decides to initiate a survey.
The company simply trades crypto to consider probable expansion beyond its current service. Smith reported to the Wall Street Journal to decline comment further on the issue.
It clearly indicates the notion to serve foreign exchange, investment options & corporate equities. However, Blockchain.com keeps planning to move forward with the continued expansion of crypto.