Jakarta-based crypto exchange Tokocrypto is considering a public market debut over the next two or three years, Nikkei reported on Wednesday. “I’m saying two years because we need to be profitable for at least more than two years before listing. We are already profitable now. Our key focus at Tokocrypto is to grow the business further, expand our operations to more parts of Indonesia and make crypto mainstream in the country,” Tokocrypto CEO Pang Xue Kai said. “Valuation-wise, it is premature to talk about as an IPO is still two to three years down the road, but a close reference …
Exchange platform eToro is coming off a stellar year of growth, as novice traders seek new pathways into the financial markets, including cryptocurrency. The online brokerage firm ended 2020 with gross revenue of $600 million, with total trading volume surging 40% to $1.5 trillion. Describing his firm as a technology company and multi-regulated broker, CEO Yoni Assia said: “The last few years have seen a rapid growth in eToro’s headcount reflecting both our global expansion and the growth of our product offering and client base.” eToro has operated a successful social trading platform for a number of years, allowing novice …
Over the course of 2020, eToro sized up significantly, as Assia explained: “We’ve grown more than 147% year-over-year revenues,” he noted. This year rolled in with mainstream and crypto bull markets in full swing, in tandem with “the biggest discussion we’ve seen in human history around the intersection of social media and investment platforms” — all bubbling together to form what Assia labeled as “a perfect storm.” He added: “We’re seeing an immense interest all around the world from people who want to participate in the global markets, which was our original vision from 2017 when we started our business …
In some ways, the Coinbase exchange is the poster child for the crypto industry. It has embraced — not fought — regulation, which sets it apart from most cryptocurrency exchanges while the firm’s trading app is praised for its ease of use. When JPMorgan Chase decided to extend traditional banking services to crypto firms in the United States earlier this year — a precedent-setting move — it began with Coinbase and Gemini, another registered U.S. exchange. Therefore, last week’s report that Coinbase filed a draft registration for an initial public offering with the United States Securities and Exchange Commission wasn’t …
India’s largest cryptocurrency exchange, CoinDCX, has no immediate plans for a public listing as the regulatory environment in the country remains uncertain. CoinDCX has no definitive route or clause as to when to go ahead with a potential initial public offering (IPO), the firm told Cointelegraph in an official statement on Nov. 29. “Any growing company aspires to take an IPO route in due course. We at CoinDCX also have similar aspirations. We would like to reiterate that there is no immediate plan in the foreseeable future to announce an IPO,” a spokesperson said. The latest announcement adds to the …