Blockchain.com takes a major step forward in crypto transactions

Crypto-currency blockchain mining service Blockchain.com is set to explore public markets as early as 2023, if the company’s CFO is to be believed.

Crypto-currency wallet provider Blockchain.com is reportedly close to going public. The Luxembourg-based unicorn’s CFO has hinted at this, although no action is planned at this time. Speaking in an interview with Fortune, CFO Macrina Kgil suggested that there was a possibility of going public via an initial public offering (IPO) in 18 months.

“An IPO is possible in 18 months or more”.

Kgil, who has been serving as the company’s CFO for three years now, made a post to share news of the company’s latest achievement. She confirmed that Blockchain.com had recently surpassed $1 trillion in crypto-currency transactions via a blog post yesterday.

“We recently reached a major milestone at Blockchain.com, surpassing $1 trillion in crypto transactions on our platform. To put that number in context, we have processed nearly a third of all transactions on the network Bitcoin since 2012, with the majority of all transactions processed through Blockchain.com Wallets occurring in the last two years,” she noted in the institutional blog.

Kgil added that the company has a diversified crypto portfolio containing altcoins, although Bitcoin and Ether make up the bulk of the assets held.

Many companies in the crypto-currency sector weighed their IPO options after Coinbase’s historic and groundbreaking decision to list directly on NASDAQ in April. No major player has followed this path yet, but there are strong indications that some are close to doing so.

Blockchain.com isn’t the first name to evaluate its options in this regard, and it’s unlikely to be the last to consider the IPO route as things stand. Bitcoin futures exchange Bakkt, crypto-currency exchange Kraken and peer-to-peer payment technology company Circle have shown similar interest. Binance, which has struggled to comply with crypto-currency regulations, is another name looking to go public.

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Blockchain.com completed a $300 million fundraising in March, bringing its valuation to $5.2 billion. It had already closed a $120 million round the month before, which boosted its valuation to $3 billion. On the approach to the IPOKgil explained that a number of conditions must be met for it to be successful, noting in particular the need for a clear structure.