Uphold checks the IPO or sale and aims to evaluate $ 1.5 billion

The digital-asset platform UPHOLD is examining a IPO in the USA or a sale to a larger financial company in order to benefit from rising sales and the interest of institutional actors in the crypto and payment area.

CEO Simon McLoughhlin said The block The company's board of directors has commissioned FT partner to examine strategic options, including a possible listing at NASDAQ or a sale. “We are currently being courted by a number of banks, brokers, financial institutions and payment companies,” said McLoughlin in an interview on Monday. “Therefore, a sale could be an option.”

While McLoughhlin did not want to comment on the evaluation, a person familiar with the matter said The Block said that the company was aiming for over $ 1.5 billion.

This step follows a series of initiatives of Maintain In order to expand its presence in the United States, the company has introduced a debit card that rewards users with XRP and tries to unlock XRP income via the Flare network. The company relies on XRP support and presents itself as a contact point for fans of the token, which is often excluded by other exchanges due to regulatory concerns.

MaintainA digital asset exchange for private and corporate customers, has had a strong increase in sales in recent years. According to McLoughlin, sales of $ 80 million in 2022 rose to over $ 300 million in 2024. The growth on the company side, including partnerships with banks such as a German financial institution and the British Broker IG Group, played a key role.

The company recently made headlines when the IG Group was the first listed British company to trade and custody of cryptocurrencies over Uphold. In December, the platform also introduced its Vault Wallet for self-storage and thus expanded its consumer-oriented offer.

McLoughhlin, who became CEO in 2022, said that an IPO could help the company in the face of increasing consolidation in the industry with acquisitions. “Our company is growing very, very quickly,” he said. “Many mergers and mergers are currently taking place in the industry.”

The IPO considerations from Uphold take place shortly after Circles successful debutwhose share price rose by over 300 % in the first trading days.

The broader Fintech area is again more attractive for investors. The shares of retail brokerage Etoro climbed 34% in his Nasdaq debut in May Digital Bank Chime According to his upcoming stock market, a rating of $ 11 billion is aimed at.