UK crypto firm Blockchain.com could undertake US IPO this year

London-based crypto startup Blockchain.com could go public in the US as early as this year.

Executives at Blockchain.com are interviewing banks about the proposed IPO, according to Bloomberg, which says it has spoken to people familiar with the matter.

However, the sources cautioned that the listing might go ahead next year, instead of this year.

Blockchain.com, founded in 2011 in London, allows users to buy and store digital tokens like Bitcoin in a virtual wallet.

The UK firm, which counts ex-Barclays CEO Antony Jenkins as a board member, says that 37 million users have created more than 80 million crypto wallets and transacted more than $1trn on Blockchain.com.

Should the IPO go ahead, Blockchain would follow Coinbase and become the second crypto exchange to list in the US.

Coinbase went public last year with a valuation of near to $100bn.

The move was heralded as a breakthrough moment for crypto, amid doubts about its longevity and the lack of investor protection.

In March last year, Blockchain.com said it hit a valuation of $14bn in a Series D funding round.

Blockchain.com has expanded its offering over time and has launched an exchange where users can buy and sell crypto from Blockchain.com and also offers services to institutional investors.

In 2017, former British prime minister David Cameron opened the firm’s new London office.

Blockchain.com was also among a group of businesses representing the UK's fintech space during a state trade mission to Asia, which Cameron undertook in 2015.

Last month, Blockchain.com teamed up with Stripe to help bolster its payment offering and get a better handle on protecting against fraud.

Blockchain.com was unavailable for comment.