Blockchain.com targets a $500M US IPO at up to $6B valuation, Bloomberg reports

What is new: Blockchain.com is telling prospective investors it wants to list in the US this year, raising about $500 million at a valuation of $4 billion to $6 billion, Bloomberg reported, citing people familiar with the matter. Details could change and a smaller raise is possible. A company spokesperson declined to comment.

The London-based company confidentially filed for an IPO with the SEC in May. Founded in 2011 as a Bitcoin blockchain explorer, it now offers exchange, wallet, trading and lending services.

The target sits well below the $14 billion valuation it reached in 2022 in a round led by Lightspeed Venture Partners. Its last round was a $110 million Series E led by Kingsway Capital in November 2023, and it has raised $537 million in equity to date. On 23 September it signed an MoU with NYSE to give users access to tokenized US stocks.