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Blockchain.com CFO Says Company Could IPO in ’18-Months,’ Firm’s Balance Sheet Holds BTC, ETH

Blockchain.com CFO Says Company Could IPO in '18-Months,' Firm's Balance Sheet Holds BTC, ETH

This week Blockchain.com CFO Macrina Kgil discussed how the company has surpassed $1 trillion in cryptocurrency transactions and the company may go public with an initial public offering (IPO) in 2023. The cryptocurrency firm is one of the oldest in the industry and Kgil explained that 76 million Blockchain.com wallets have been created since the company’s inception.

$1 Trillion in Crypto Transactions Processed, 76 Million Wallets Created

In March 2021, Bitcoin.com News reported on Blockchain.com raising $300 million and receiving a post-money valuation of around $5.2 billion. The company has been around for quite some time and when it was called “Blockchain.info” it was established by Ben Reeves way back in 2011. In 2013 it was led by Nicolas Cary and was considered the most popular bitcoin wallet at the time.

In 2014, Blockchain.com was led by Peter Smith and he’s remained the company’s CEO ever since. Macrina Kgil, Blockchain.com’s chief financial officer, detailed this week that the company has jumped over $1 trillion in crypto transactions since the firm started.

“We recently hit a major milestone at Blockchain.com, surpassing more than $1 trillion in crypto transacted on our platform. To put that number into context, we’ve handled nearly a third of all bitcoin network transactions since 2012,” Kgil said. The company’s CFO added:

Our institutional market business is continuing to see exponential growth as more asset managers look to meet their clients’ demand to work with this new asset class.

Blockchain.com Is Contemplating an Initial Public Offering, Firm Holds Bitcoin and Ethereum on Its Balance Sheet

The Blockchain.com CFO also spoke with Fortune.com in an interview published on August 30 that explains the firm has also seen 76 million wallets created. Kgil believes that the cryptocurrency ecosystem will see continued growth and noted that crypto is not going anywhere.

“At this point in time, a lot of people actually think crypto is here to stay,” Kgil stressed in her interview with Fortune.com. “It’s just [a matter of] how big and how fast it will grow within the overall economy,” she added.

Furthermore, just like publicly-listed companies like Coinbase and Canaan, the Blockchain.com CFO mentioned that the company may see an initial public offering as soon as 2023. The interview says “possibly 18-months or more away” and the interview also highlights that Blockchain.com keeps crypto assets on its balance sheet.

“The main pieces of crypto we hold are [bitcoin (BTC) and ethereum (ETH)… but we do also hold [altcoins], as a company, when we think it makes sense,” Kgil says.

What do you think about Blockchain.com possibly going public by 2023 and the $1 trillion in crypto transactions recorded on the platform? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/2Wzjv9B
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