Crypto Startup Blockchain.com Plans 2022 IPO

Cryptocurrency exchange and block explorer Blockchain.com has started talks with Bank of America on how to hold an initial public offering (IPO) as soon as this year.

Bloomberg reported on April 19 that people familiar with the matter said the talks were preliminary and the technology startup's plans could change at any time.

If it manages to go public through an IPO, it will be the second cryptocurrency exchange in the U.S. to achieve the feat. Coinbase debuted in 2021 at an opening price of $381 per share, valuing it at nearly $100 billion.

Blockchain.com is currently valued at around $14 billion after a funding round from global venture capital firms. Blockchain.com is a cryptocurrency financial services company that started in 2011 as the first bitcoin block explorer and later created a popular crypto wallet app.

The race to become the second U.S.-listed cryptocurrency exchange is now on. Binance.US, the U.S. arm of the world’s largest cryptocurrency exchange Binance, also plans to list as soon as it can prove independence from major exchanges, according to founder Changpeng Zhao.

Helping the exchange's efforts is the recent $200 million seed round that brought the Binance.US exchange to a pre-money valuation of $4.5 billion.

Regulatory complexity has been a major hurdle preventing major cryptocurrency exchanges from listing in the United States.

Binance.US CEO Brian Shroder believes the company has a strong business and is working with local regulators to ensure a smooth listing.