Blockchain.com Aims for $4B-$6B Valuation in US IPO

Blockchain.com is planning to list on a US exchange this year, aiming for a valuation of $4 billion to $6 billion and potentially raising up to $500 million through an initial public offering (IPO). The company has reportedly posted adjusted profitability over the past three years and has already confidentially filed for a listing with the US Securities and Exchange Commission.

The news comes as the crypto market shows signs of recovery, with Bitcoin rising about 33% since mid-August. Blockchain.com's valuation fell to less than half its previous level in 2022 after it raised $110 million in a funding round led by Kingsway Capital in 2023.

In addition to pursuing an IPO, Blockchain.com is also reviewing a plan with the New York Stock Exchange (NYSE) to allow 24/7 trading of tokenized US stocks and exchange-traded funds (ETFs). This move would enable investors to trade these assets around the clock, potentially increasing liquidity in the market.