Blockchain.com, one of the oldest players in the crypto ecosystem, is currently in talks to join the ranks of industry giants going public. According to several sources close to the matter, the platform has engaged in discussions for a merger with a Special Purpose Acquisition Company (SPAC) in the United States. This move signifies the market’s renewed confidence in crypto infrastructures.
A Comeback for Blockchain.com
For this endeavor, Blockchain.com has partnered with Cohen & Company Capital Markets, a well-known player on Wall Street, tasked with overseeing the market strategy. While the discussions remain confidential, this initiative confirms the company’s desire to step up its game after a period of consolidation. The goal is to seize the opportunity opened by the recent wave of successful listings in the sector.
A Valuation that Has Seen Ups and Downs
Founded in 2011, Blockchain.com has navigated through several market cycles. In March 2021, it raised $300 million for a post-money valuation of $5.2 billion. The following year, fueled by bullish excitement, this valuation soared to $14 billion. However, the abrupt market correction brought the figures back to reality: in November 2023, a new funding round of $110 million valued the company at $7 billion, according to Bloomberg. These fluctuations reflect the evolution of a still volatile sector, as well as Blockchain.com’s ability to remain at the forefront despite storms.
A Wave of Crypto Listings
The company is not alone in eyeing the public market. Circle, the issuer of USDC, kicked off the trend with an IPO in June, followed by Bullish in August, then Gemini in September. Kraken is reportedly gearing up for its debut in early 2026. This series of listings illustrates an underlying trend: the gradual normalization of crypto finance towards traditional markets, after years of institutional skepticism.
A Team Prepared for the Public Company Transition
To enhance its credibility with investors, Blockchain.com has bolstered its management. Justin Evans, a former Goldman Sachs executive, was appointed CFO, while Mike Wilcox, ex-CFO of Velocity Global and former portfolio manager at Point72, took over operations. Both profiles are capable of guiding the company through its transformation. Evans had even stated that the platform “is taking all necessary steps to become a publicly traded company, as soon as the markets allow it.”
Global Expansion in Parallel
In tandem with these financial ambitions, Blockchain.com continues to expand its geographical footprint. In early 2025, the company launched its services in Ghana, Kenya, and South Africa, strengthening its presence in emerging markets where demand for crypto solutions is skyrocketing.
While the realization of the SPAC deal remains uncertain, one thing is clear: Blockchain.com aims to position itself among the leaders of the new generation of publicly traded crypto companies. And this time, the timing could finally be in its favor.
