aims to go public after handling crypto transactions worth $1T, a renowned crypto exchange and wallet provider, is looking to go public following its explosive growth over the years. The company’s Chief Financial Officer, Macrina Kgil, disclosed this news during an interview on August 30. According to her, could potentially launch an initial public offering as early as 2023.

In the interview, Kgil said,

“An IPO is possibly 18-months or more away. The company keeps both cash and crypto 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.”

She said this in light of the two funding rounds that the company completed earlier this year. In its Series B funding round in February, the company secured $120 million from investors, such as Moore Strategic Ventures, Access Ventures, Rovida Advisors, and Lightspeed Venture Partners, among others. 

The company’s Series C funding round came in March, and it raised $300 million from organizations such as DST Global, Lightspeed Venture Partners, and VY Capital. To date, this is the third-largest capital raise in the crypto space, and it pushed’s valuation to $5.2 billion.

Following in Coinbase’s footsteps

Kgil’s disclosure comes after’s former CEO, Peter Smith, said the firm was carefully considering its public-market options after Coinbase went public on Nasdaq in April. At the time, he claimed that was not in a hurry to go public despite being open to the idea.

Explaining the reluctance, Smith said Coinbase’s listing showed how public markets would receive a crypto market. While he admitted that crypto awareness had increased over the years, Smith said not everyone understands digital currencies, adding that the crypto industry still has to go a little further to achieve this feat.

While seems to be taking its time, it is not the first crypto company to try following Coinbase’s footsteps. For instance, Kraken exchange is working on going public before the end of 2022, according to its CEO, Jesse Powell. Gemini, Circle, and Bullish also have similar ambitions. 

Unlocking key milestones along the way

Just before going on the interview, Kgil published a blog post, disclosing that was celebrating its 10th anniversary as well as handling crypto transactions exceeding $1 trillion since its launch. She further noted that the majority of these transactions took place over the past two years. Kgil pointed out that this transaction volume does not depict what users purchased or sold on, but rather the real usage of cryptocurrencies.

According to her, currently boasts more than 76 million active wallets, indicating that the retail sector is the primary driving force behind the firm’s growth. Institutions have also played a significant role in expanding the firm’s operations. Per Kgil, asset managers are increasingly embracing crypto to meet their clients’ demands. 

She also believes that’s flexibility has also contributed to its growth. She noted that the company has been expanding its brokerage and exchange business to meet the insatiable appetite for cryptocurrencies, especially during rallies.


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