Blockchain.com Files Confidential IPO Draft With Terms Undecided
The crypto platform has not disclosed the offering’s timing, share count or price range, while reporting has placed a potential raise at $500 million.
Blockchain.com has confidentially submitted a draft registration statement for a U.S. initial public offering, setting up a test of investor demand for a major crypto infrastructure company.
Blockchain.com Group Holdings, Inc. submitted the draft Form S-1 to the U.S. Securities and Exchange Commission on May 21 for a proposed offering of Class A ordinary shares. The company has not determined the number of shares to be offered or the price range.
A potential raise of about $500 million at a valuation between $4 billion and $6 billion has been discussed, but those figures have not been confirmed by the company. The IPO’s timing also remains undecided.
Blockchain.com said it had more than 95 million wallets, over 43 million verified users and had facilitated more than $1.1 trillion in crypto transactions as of May 21. Founded in 2011, the company operates wallet, brokerage and related services.
The proposed listing comes as Blockchain.com expands into tokenized securities. The company and the New York Stock Exchange announced Sept. 23 that they would explore tokenized versions of U.S.-listed stocks and exchange-traded funds.
