The post Crypto Trading Platform Uphold Eyes $1.5B IPO after $300M Revenue Surge appeared first on Coinpedia Fintech News
Crypto trading platform Uphold is reportedly weighing a US initial public offering (IPO) or potential acquisition, as interest from major financial institutions intensifies.
According to Simon McLoughlin, the company has hired FT Partners, a top investment banking firm in the fintech sector, to explore strategic options. This move suggests that Uphold is actively evaluating pathways to scale its operations and market presence.
In a recent interview, Uphold CEO Simon McLoughlin confirmed that the firm has engaged FT Partners to assess its strategic future. One key direction being explored is a potential public listing.
McLoughlin also noted that several leading financial players — including banks, brokers, and payment companies — have expressed interest in acquiring Uphold. However, he declined to comment on the company’s current valuation. Market speculation places it around $1.5 billion.
The timing of Uphold’s potential IPO comes shortly after Circle — a well-known peer-to-peer payments company — went public. Since its debut, Circle’s stock price has jumped from $31 to $115, showcasing a massive 300% surge. This success appears to have reignited IPO enthusiasm across the crypto fintech space.
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Uphold has been on a steady growth trajectory. In 2022, the company generated $80 million in revenue. This year, it is projected to hit $300 million, marking an impressive expansion.
The company is also actively promoting XRP-related products, including a US debit card with XRP rewards and yield farming options through the Flare Network. One of its most notable recent collaborations is with a German bank, signaling its growing influence in both US and European markets.
According to McLoughlin, a Nasdaq listing could provide Uphold with the financial muscle to acquire other companies in what he described as a consolidating crypto market. The strategy signals Uphold’s intent to expand its footprint through aggressive yet strategic moves.
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