Cryptocurrency firm Gemini is reportedly considering an initial public offering (IPO) as soon as this year.
The company is in talks with potential advisers, but no final decision has been made on an IPO, Bloomberg reported Thursday (Feb. 6), citing unnamed sources.
Gemini did not immediately reply to PYMNTS’ request for comment.
The company offers tools for buying, selling and storing crypto, according to its website.
“Retail is coming back into crypto,” Gemini said in a Wednesday (Feb. 5) post on X. “With a pro-crypto administration now in place, the industry is poised for growth.”
Crypto exchange operator Bullish Global is also considering an IPO as early as this year, according to the Bloomberg report.
In October, Bullish was one of the exchanges and platforms on which Ripple said the new U.S. dollar-denominated stablecoin Ripple USD (RLUSD) would be available.
It was reported in January that eToro, a retail trading platform that lets customers trade stocks, crypto and other assets, submitted confidential filings to the Securities and Exchange Commission (SEC) for an IPO in hopes of valuing the company at $5 billion.
In June, it was reported that crypto exchange Kraken was considering launching an IPO as early as 2025. While declining to comment specifically on a potential IPO, Kraken said at the time: “We are always exploring strategic paths toward Kraken’s Mission: accelerating the global adoption of crypto. We remain fully focused on investing in this goal.”
On Friday (Jan. 31), while reporting that the company’s revenue more than doubled in 2024 from $671 million to $1.5 billion, Kraken Co-CEO Arjun Sethi said that the company plans to continue issuing quarterly reports and that this “gives us an ability to turn on the lights for when we are ready for the possibility” of an IPO.
The digital asset landscape has been transformed by the embrace of digital assets by President Donald Trump, whose administration has moved swiftly to position, or reposition, America as a global leader in the financial technology, PYMNTS reported Wednesday (Jan. 29).
As blockchain and cryptocurrency continue to work toward the heart of traditional finance, 2025 is shaping up to be a defining year for investors, businesses and regulators.
