The surge of interest in the cryptocurrency market in recent months has seen more and more US-based cryptocurrency companies considering going public.
According to Bloomberg, Gemini co-founders Tyler and Cameron Winklevoss are considering a public listing for the exchange, saying:
“We are monitoring the market and we are also having internal discussions as to whether this makes sense for us at the moment. We are certainly open to it.
The Winklevoss twins will have a number of avenues to get Gemini to go public, including an initial public offering or by merging with a blank check company.
Indeed, the Bitcoin Bakkt futures exchange recently used the latter route by merging with VPC Impact Acquisition Holdings – a Special Purpose Acquisition Company, or SPAC.
Coinbase, another U.S. cryptocurrency exchange, is also reportedly moving towards public listing via an IPO. The company has already filed for registration with the Securities and Exchange Commission and is also in talks with Goldman Sachs.
Gemini recently revealed that it has crossed the $ 10 billion mark in assets in custody. In April 2020, the exchange obtained a Service Organization Control Certification, or SOC 1, from the “Big Four” accounting firm Deloitte.
Meanwhile, Gemini is set to launch a credit card service with a 3% Bitcoin cashback feature. The company also acquired startup Blockrize, which already has a waiting list of 10,000 people for the Gemini credit card.
As previously reported by TBEN, the Winklevii are the richest Bitcoin billionaires with a combined value of around $ 2.8 billion in BTC according to TBEN. They invested $ 11 million in Bitcoin in 2013.