MaiCoin Group – the parent company of Taiwan’s largest crypto platform – is reportedly considering becoming a publicly-traded firm within the next two years.
Ambitions for Nasdaq
According to a recent coverage by Bloomberg, MaiCoin will soon complete a Series C funding round, after which the exchange’s valuation could reach approximately $400 million.
The trading venue vowed to employ the proceedings to expand its presence in Southeast Asia, and it also plans to pursue a Nasdaq listing.
Joining the global marketplace for buying and trading securities will be a significant achievement for a Taiwanese organization. Only two such firms have completed US IPOs in the past five years, Bloomberg revealed.
Unlike many other countries, the Republic of China (better known as Taiwan) has not implemented any official regulations on the digital asset sector apart from asking local exchanges to comply with anti-money laundering laws. Earlier this year, its financial watchdog said only three out of 16 trading venues had completed this step.
“Taiwan is the Goldilocks to develop DeFi in terms of financial regulations,” MaiCoin’s Founder – Alex Liu – claimed back then.
Other Crypto Companies Eyeing Nasdaq
Several entities part of the digital asset space have already revealed intentions to become publicly-traded companies.
In August last year, the bitcoin miner Iris Energy Pty filed with the US SEC to debut on Nasdaq. The firm preferred to go live on the global marketplace through a direct listing instead of a more traditional way of an initial public offering (IPO).
The American crypto miner – TeraWulf – was next in line. To do so, it raised around $200 million in debt and equity financing from a group of institutional and individual investors.
Arguably the most prominent crypto company part of Nasdaq’s family is Coinbase. In April 2021, the US exchange became the first of its kind to have its stocks publicly traded. COIN shares had a debut price of $381. At the moment of writing these lines, though, the USD valuation hovers around $180 per single one.
Separately, the SEC greenlighted Valkyrie’s Bitcoin Miners ETF to be listed and traded on Nasdaq in February this year. The organization vowed to focus on mining firms that use green and renewable energy.