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Blockchain.com Plans to Go Public After Surpassing $1 Trillion in Crypto Transactions

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Mon, 30/08/2021 - 14:39
Blockchain.com Plans to Go Public After Surpassing $1 Trillion in Crypto Transactions
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Cryptocurrency giant Blockchain.com is intending to go public in 18 months or so, chief financial officer Macrina Kgil told Fortune.

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Kgil also claims that the pioneering crypto company holds a diverse crypto portfolio on its balance sheet:

The main pieces of crypto we hold are Bitcoin and Ethereum…but we do also hold Altcoins, as a company, when we think it makes sense.

The remarkable public debut of leading U.S. cryptocurrency exchange Coinbase paved the way for many other cryptocurrency leaders.

Bitcoin futures exchange Bakkt and stablecoin issuer Circle are among the biggest crypto companies that have also set their sights on public markets.

In June, Kraken CEO Jesse Powell said that the exchange was willing to go public next year. Gemini, another major trading platform, is also doing the prep work to hold an IPO, but the timeline is not clear. Binance.US, the American offshoot of the largest U.S. exchange, is also considering an IPO.

Blockchain.com CEO Peter Smith revealed the company's intentions to go public in April.

The $1 trillion milestone

One of the oldest cryptocurrency companies, which operators a crypto wallet, a blockchain explorer and a crypto exchange, is valued at $5.2 billion after raising $300 million during its Series C funding round that was announced in March. 

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In her Aug. 30 blog post, Kgil, who took on the role of Blockchain.com's CFO in 2018, announced that Blockchain.com recently surpassed $1 trillion in total assets.

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.

Blockchain.com also boasts 76 million active wallets, another milestone that underscores growing cryptocurrency adoption.

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