Blockchain.com's IPO Might Happen This Year, Indian Exchange CoinDCX Doubles Valuation
Investments in the crypto industry's infrastructure seem to be a lucrative opportunity, as another crypto giant might go public this year, while one exchange boosted its valuation sharply.
Major crypto platform Blockchain.com is reportedly planning a public listing that could happen as soon as this year. Meanwhile, local Indian crypto exchange CoinDCX said Wednesday that it has received a fresh capital injection, making it a multi-billion-dollar company.
Blockchain.com is currently interviewing banks about the possibility of doing an initial public offering (IPO) later this year, Bloomberg reported Tuesday, citing unnamed sources “familiar with the matter.”
The sources stressed that the company’s IPO plans could still change, and said it is possible that the listing will not happen until next year.
Established all the way back in 2011 as a blockchain explorer for Bitcoin (BTC), Blockchain.com is one of the oldest crypto platforms still operating today.
Following its latest funding round in March, Blockchain.com is valued at about USD 14bn. Major investors in the company include Baillie Gifford, Moore Strategic Ventures, Lightspeed, and others.
Indian exchange doubles valuation
Meanwhile, CoinDCX said that it received funding of USD 135m in a Series D funding round.
The round was led by Steadview and the existing investor Pantera Capital, with participation from Coinbase Ventures, Kingsway, DraperDragon, Republic, and Kindred.
Pantera "believes that we are in the early innings of Web 3 use cases exploding in the country to potentially make India one of the global leaders in the Web 3 space," said the crypto hedge fund partner Paul Veradittakit.
Following several funding rounds and the conclusion of the latest one, CoinDCX said it is worth USD 2.15bn. The company claims that it has doubled its valuation in a matter of just eight months.
CoinDCX calls itself India’s largest crypto and Web 3 company. The exchange had a 24-hour trading volume of USD 25.8m on Tuesday, just behind rival Indian exchange WazirX with a 24-hour volume of USD 26.4m, per CoinGecko.
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