Blockchain.com is exploring a US public listing through a SPAC merger, having engaged Cohen & Company Capital Markets as an advisor for the potential deal.
Blockchain.com, a leading crypto exchange and wallet provider, is considering a US public listing via a SPAC deal, sources say.
The company engaged Cohen & Company Capital Markets as an advisor for the potential deal, but the status of talks is unclear. Both parties declined to comment, according to CoinDesk.
A SPAC, or special purpose acquisition company, allows private companies to go public by merging with an already-listed shell company that exists solely to acquire another business. This route sidesteps the lengthy traditional IPO process and appeals to crypto firms seeking faster market access and funding.
Making Preparations, Expanding Leadership with Wall Street Veterans
Since August 2021, Blockchain.com has aimed to go public, raising funds at varying valuations. Key rounds include $120 million in February 2021 and $300 million at a $5.2 billion valuation in March, peaking at $14 billion and later adjusting to $7 billion after a $110 million raise in November 2023.
To prepare for a public debut soon, Blockchain.com has expanded its leadership team, appointing Justin Evans as chief financial officer and Mike Wilcox as chief operating officer earlier this year.
In August, Blockchain.com named Timothy Flynn, former KPMG CEO and JPMorgan board member, and Landon Edmond, Klaviyo’s chief legal officer, to its board to strengthen governance and regulatory expertise.
Crypto Firms Rush to Public Markets in 2025
Momentum for public listings is strong. Stablecoin firm Circle listed via IPO in June, CoinDesk owner Bullish in August, and exchange Gemini in September.
Blockchain.com recently expanded its services into Africa. The company keeps signaling readiness for a public transition. We will see if this happens this year or in 2026.
Overall, these steps are part of a broader push by crypto firms to go public. This hints at greater investor confidence and regulatory clarity for US digital assets.
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