Blockchain.com is reportedly targeting a valuation of $4 billion to $6 billion for a potential initial public offering in the United States during 2026, aiming to raise around $500 million, according to Bloomberg sources familiar with the plans. The company has already filed a confidential submission with the U.S. Securities and Exchange Commission in May for a Class A ordinary share offering, though terms remain under discussion and could be adjusted depending on market conditions.
The firm has operated with adjusted profitability for three consecutive years and has expanded significantly since the confidential filing. Last week it signed an agreement with the New York Stock Exchange to explore giving users access to tokenized shares of U.S.-listed companies and ETFs through the NYSE digital platform. Blockchain.com also extended its partnership with Ondo Finance to offer tokenized shares to eligible European users, after prior launches in Africa and South America. In September, it introduced perpetual contracts tied to the valuations of private AI companies OpenAI and Anthropic, with infrastructure provided by Hyperliquid, and in July it partnered with Polymarket to incorporate prediction markets into its app.
On the regulatory side, Blockchain.com obtained a definitive VASP custody services license in the Cayman Islands in August and was admitted into the Nigerian Securities Commission's regulatory incubation program. It also expanded institutional payments into Brazil using stablecoins for cross-border settlements and dollar liquidity. The company reports more than 95 million wallets, 44 million confirmed accounts, and over $1.2 trillion in transactions processed across more than 70 jurisdictions. Founded in 2011, it previously explored an IPO in 2022, when private investors valued it at $14 billion; that figure has since fallen sharply.
A second report noted that the $5 billion midpoint target is not a confirmed offering price or final market capitalization, and no IPO has been priced, scheduled, or approved. Confidential SEC filings frequently shift before any public listing. The move comes amid a broader trend of crypto-adjacent firms seeking public market access, with Figure Technologies targeting a $4.3 billion valuation in a September IPO and Kraken reportedly exploring a SPAC deal with a valuation up to $10 billion.
