Blockchain.com is reportedly considering going public via a SPAC listing.
Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.
yesSubscribe to our daily newsletter, PYMNTS Today.
By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.
The cryptocurrency exchange and wallet provider has appointed an advisor and has held talks about making this move, CoinDesk reported Monday (Oct. 20), citing unnamed sources.
Blockchain.com did not immediately reply to PYMNTS’ request for comment.
According to the report, when the company hired Goldman Sachs veteran Justin Evans as its chief financial officer in February, Evans said Blockchain.com was “taking the necessary steps to be a public company, if and when the public markets are available.”
The report said Blockchain.com’s hiring of Evans as CFO and former Velocity Global CFO Mike Wilcox as chief operating officer signaled that the company could be preparing to go public.
Blockchain.com’s valuation changed over the years amid market volatility, according the the report. The company was valued at $5.2 billion in March 2021, $14 billion in 2022 and $7 billion in November 2023, per the report.
Advertisement: Scroll to Continue
When the company’s valuation was cut in half in 2023, it was reported that the downturn in the crypto market at that time had left Blockchain.com and others like it on shaky ground.
More recently, some other cryptocurrency exchanges have gone public.
Global crypto platform Gemini announced the closing of its initial public offering on Sept. 15. CNBC reported at the time that the company priced its IPO at $28, which valued it at $3.3 billion, and that the stock closed its first day of trading 14.3% higher at $32.
When cryptocurrency exchange Bullish made its market debut on Aug. 13, it priced its shares at $37 and saw the shares end the day of their IPO 83% higher than the company’s target price at $68. It was reported at the time that the surge gave the company a fully diluted market value of almost $10 billion.
It was reported in March that cryptocurrency platform Kraken was preparing to go public as soon as the first quarter of 2026, although those plans could change. In September it was reported that Kraken raised $500 million in a funding round that valued it at $15 billion and that the round was part of the company’s final preparations for an IPO.
Blockchain.com Considers Going Public Via SPAC Listing
Cryptocurrency Exchange Gemini Launches Credit Card That Earns Solana Rewards
Regions Bank Rolls Out Healthcare-Focused Treasury Management Tools
Revolut Gets OK to Begin Banking Services in Mexico
We’re always on the lookout for opportunities to partner with innovators and disruptors.
