Sources: Blockchain.com tells prospective investors it wants to go public this year, seeking to raise about $500M in an IPO targeting a $4B to $6B valuation (Bloomberg)

Blockchain.com, a cryptocurrency services company, plans to go public this year with an initial public offering (IPO) valued between $4 billion and $6 billion, according to Bloomberg. The company aims to raise around $500 million in the IPO, which is currently in talks with potential investors. The specific number of shares to be offered and the price range for the proposed offering have not been determined yet, as the SEC's review process is ongoing.

Blockchain.com submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (SEC) in May, but the final details for the IPO remain uncertain. The company declined to comment on the matter, as reported by Bloomberg. In May 2023, Blockchain.com raised $110 million in a Series E funding round, which valued the company at less than half of its $14 billion valuation in 2022, following a decline in the crypto market.

The IPO announcement coincides with a recovery in the crypto market, with bitcoin prices up by 33% since mid-August of the previous year. This increase in market activity has brought back discussions about crypto company listings. Kraken parent Payward is also considering going public, though its plans are progressing more slowly, with a potential debut in 2027.

Additionally, Blockchain.com and the NYSE signed a memorandum of understanding in September, allowing Blockchain.com users to access tokenized U.S. exchange-listed equities and exchange-traded funds on the NYSE's upcoming digital alternative trading system. The collaboration is subject to regulatory approvals. Peter Smith, the executive chairman, CEO, and co-founder of Blockchain.com, expressed his support for greater access to stock ownership and the potential of tokenized stocks for economic freedom, stating that this collaboration will enable tens of millions of Blockchain.com users worldwide to invest in these digital assets.