Blockchain.com Targets $6B Valuation in Planned IPO
Crypto brokerage Blockchain.com is reportedly eyeing a US initial public offering this year, aiming to raise $500 million at a valuation between $4 billion and $6 billion.
Blockchain.com is moving forward with plans for a potential US initial public offering, targeting a valuation between $4 billion and $6 billion. The firm is looking to raise approximately $500 million through the listing, though the final terms remain subject to market conditions and ongoing discussions.
The company previously submitted a confidential filing to the Securities and Exchange Commission in May for an offering of Class A ordinary shares. While the specific share count and price range were not set at that time, the move follows a period of business expansion for the brokerage.
Blockchain.com has recently diversified its offerings beyond its traditional wallet and brokerage services. Last week, the firm signed an agreement with the New York Stock Exchange to explore providing users with access to tokenized US-listed stocks and ETFs. This initiative builds on existing partnerships, including a collaboration with Ondo Finance to offer tokenized equities to users in Europe, Africa, and South America.
The company has also entered the derivatives and prediction markets. In July, it partnered with Polymarket to integrate prediction markets into its application, and in September, it launched perpetual contracts tracking private AI firms OpenAI and Anthropic using infrastructure from Hyperliquid.
International growth has been a focus for the firm as well. In August, it secured a VASP custody services license in the Cayman Islands and joined the Nigerian SEC’s regulatory incubation program. Additionally, the company has expanded its institutional payments business into Brazil, utilizing stablecoins for cross-border settlements.
Blockchain.com reports having over 95 million wallets and 44 million confirmed accounts, with more than $1.2 trillion in processed transactions across 70 jurisdictions. The firm has been profitable on an adjusted basis for the past three years.
The company previously explored an IPO in 2022 when it held a $14 billion valuation. A 2023 funding round of $110 million subsequently valued the business at less than half that amount. Founded in 2011, the firm has raised approximately $537 million in equity capital to date.
