According to reports, the cryptocurrency trading platform Uphold might be considering an Initial Public Offering (IPO) in the U.S., or it could even be up for acquisition, given that significant interest from prominent financial entities is growing.
As per the latest updates, Uphold has enlisted the services of FT Partners, a leading investment bank within the fintech industry, for considering various strategic opportunities. This action indicates that Uphold is actively assessing potential methods to expand its operational reach and influence in the market.
Uphold Confirms IPO Talks and Buyer Interest
In a recent conversation, Simon McLoughlin, CEO of Uphold, disclosed that they have enlisted FT Partners to evaluate their upcoming business strategies. Among these possibilities is the consideration of an initial public offering (IPO).
McLoughlin additionally pointed out that significant financial entities such as banks, brokers, and digital payment providers have shown interest in purchasing Uphold. Nevertheless, he refrained from disclosing the present evaluation of the company. Market conjecture estimates its worth to be approximately $1.5 billion.
IPO Timing Follows Circle’s Market Boom
Uphold’s possible Initial Public Offering (IPO) follows closely on the heels of Circle, a widely recognized peer-to-peer payments firm, going public. Since its launch, Circle’s stock value has skyrocketed from $31 to $115, representing an impressive 300% increase. This significant growth seems to have rekindled interest in IPOs within the crypto financial technology sector.
From $80M to $300M: Uphold’s Strong Revenue Growth
Over the past period, Uphold has consistently seen a progressive increase in its growth path. Last year, the company successfully earned approximately $80 million in revenue. With projections for this current year, the company is set to reach an astounding $300 million, signifying a remarkable expansion.
The business is likewise aggressively marketing goods associated with Ripple (XRP), such as a U.S. debit card that offers XRP incentives and farming opportunities via the Flare Network. One of its latest significant partnerships involves a German bank, indicating its expanding clout in both American and European markets.
Nasdaq Listing Could Drive Acquisitions
As per McLoughlin’s perspective, obtaining a Nasdaq listing could grant Uphold the necessary financial strength to purchase other companies within the consolidating cryptocurrency market. This approach suggests that Uphold aims to broaden its influence by executing bold but well-planned expansions.
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2025-06-10 10:30