Blockchain.com confidentially filed for a U.S. initial public offering, kicking off the regulatory review and keeping the option to list open until market conditions improve.

Blockchain.com, founded in 2011, reports more than 95 million wallets, over 43 million verified users, and processing over $1.1 trillion in crypto transactions across consumer and institutional services.

The company operates a platform for buying, selling, and storing cryptocurrencies and serves millions of customers in more than 100 countries.

Blockchain.com positions itself as a crypto financial services firm offering exchange, wallet, institutional trading, and lending products.

The listing move comes as the crypto market shows cautious recovery, aided by regulatory progress such as a Senate committee advancing crypto regulation.

The development signals renewed investor interest as sentiment improves amid regulatory clarity and a more favorable listing climate.

U.S. regulators have progressed recently, with a Senate committee moving forward legislation to regulate cryptocurrencies.

The IPO move follows Blockchain.com's 2026 expansion, including a focus on African markets and the launch of perpetual futures trading via a self-custodial wallet using the Hyperliquid protocol.

Other crypto firms, such as Grayscale Investments and Kraken, have floated IPO plans in the past but have not progressed publicly with listings, underscoring a slow IPO environment for the sector.

Details on the number of shares, price range, or the amount to be raised remain undisclosed.

The move illustrates the broader push of crypto firms into traditional finance and institutional participation.

Bitcoin has gained about 20% over the past three months but is still down around 12% for the year, reflecting ongoing volatility in crypto markets.