Quick take:
- It follows OKX’s recent relaunch in the country in April, which also saw the crypto company hire Roshan Robert as U.S. CEO.
- OKX follows multiple companies that have also revealed plans to list on the U.S. stock exchange, including Kraken and Gemini.
- The IPO craze seems to have been sparked by Circle Internet’s successful listing, which has seen its stock price rally to $280 per share, up from a listing price of $31.
Crypto exchange company OKX is reportedly exploring an initial public offering in the U.S., potentially becoming the latest cryptocurrency company to list in the country. The report by The Information comes amid a growing flurry of crypto companies that are pursuing U.S. listing amid the hope of a better regulatory framework for digital assets.
The report follows OKX’s recent relaunch in the country, which also saw the crypto company hire Roshan Robert as U.S. CEO in April.
More recently, Kraken and Gemini filed to list in the U.S. via an initial public offering, while online trading company eToro debuted on Nasdaq in an upsized IPO valued at $5.4 billion.
While eToro did spike some interest in IPOs, it is Circle Internet Group’s (NYSE: CRCL) IPO that really got things going.
The USDC stablecoin issuer debuted at a stock price of $31 per share, raising $1.1 billion. However, the company’s share price has now rallied closer to $280, valuing the entity at a whopping $66 billion.
Since then, several companies have sought to go public in the U.S., with some like Anthony Pompliano’s ProCap BTC opting for a SPAC with Columbus Circle Capital (NASDAQ: CCCM), while Justin Sun’s Tron is pursuing a reverse merger with SRM Entertainment.
According to the report by The Information, OKX would “absolutely consider an IPO in the future,” and if it does go public, it would “likely be in the U.S.,” Haider Rafique, chief marketing officer at OKX, said in an interview.
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