Taiwan's largest crypto exchange eyes $400 million valuation and potential IPO: report

Exchanges • March 18, 2022, 6:55AM EDT
UPDATED: March 18, 2022, 7:44AM EDT
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.

Taiwan's largest cryptocurrency exchange, MaiCoin, is reportedly raising a Series C funding round that could value it at $400 million.

A report by Bloomberg on Friday indicated that the company is considering joining fellow exchange Coinbase in going public on the Nasdaq stock exchange in the US within two years.

Maicoin is a cryptocurrency exchange that offers users the ability to trade BTC, SOL and ADA among other currencies – along with the ability to earn yield on ETH and USDC.

According to company documents seen by Bloomberg, it expects trading revenue to rise more than 70% annually up until 2025 with 80% of its revenue currently from Taiwan. The exchange plans to use the new funds to expand into Southeast Asia. 

The news comes as cryptocurrency exchanges globally make major plays for global expansion. On Tuesday, Crypto.com kicked off the rollout of its US exchange platform, and on Wednesday, FTX continued its push into Africa by partnering with payments company AZA Finance. 

AUTHOR

Tom Matsuda profile picture Tom Matsuda

Tom is a deals reporter at The Block covering venture capital, fundraises, fintech and M&A. Before joining, he was an editorial intern at the FT-backed platform Sifted where he reported on neobanks, payment firms and blockchain startups. You can reach him by email at [email protected] or Telegram @tommatsuda.

See More
Connect on

WHO WE ARE

The Block is a news provider that strives to be the first and final word on digital assets news, research, and data.

+ Follow us on Google News
Connect with the block on

More by Tom Matsuda