MaiCoin Crypto Exchange Raises $400 Million As It Prepares An IPO On NASDAQ

Taiwanese largest crypto alternate MaiCoin is considering itemizing as a publicly-traded firm inside the subsequent two years. The alternate is additionally trying to full a Series C funding spherical that may enhance its valuation to roughly $400 million.

MaiCoin Also Wants To Expand Its Presence In South East Asia

According to the report, the crypto buying and selling platform desires to use the funding to pursue Nasdaq itemizing and broaden its presence in South East Asia.

Over the previous 5 years, solely two such corporations have succeeded in finishing a US IPO. So, it is going to be an enormous growth for the Taiwanese authorities when the corporate joins the worldwide market of shopping for and promoting.

While different nations have applied or are within the strategy of establishing crypto laws, Taiwan, also called the Republic of China, doesn’t have any official crypto regulatory framework. The solely legislation in place is for native exchanges to adjust to anti-money laundering legal guidelines. But earlier this 12 months, the nation’s regulator said that out of 16 buying and selling platforms, solely three of them have accomplished the step.

Other Crypto Firms Also Consider US Listing

MaiCoin is not the one overseas crypto alternate that is contemplating a listing on Nasdaq. Several firms inside the digital asset area have revealed their plans to get listed within the US, particularly with Nasdaq.

In August final 12 months, Bitcoin mining agency Iris Energy Pty debuted on Nasdaq after submitting with the US Securities and Exchange Commission (SEC).

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The firm determined to undergo direct itemizing as an alternative of following a extra conventional methodology of an preliminary public providing (IPO). TeraWulf, a U.S-based crypto miner adopted Iris Energy to checklist on Nasdaq after elevating $200 million in debt and fairness financing from particular person and institutional buyers.

And final month, the SEC has authorised Valkyrie’s Bitcoin Miners ETF to be traded publicly. The firm says it desires to deal with mining firms that use renewable vitality.

But Coinbase is essentially the most notable itemizing when it comes to crypto exchanges going public. The UK crypto alternate turned one of many first crypto platforms to have their inventory, COIN shares, publicly traded on Nasdaq.

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