Crypto Trading Platform Uphold Eyes $1.5B IPO After $300M Revenue Surge

Uphold, a prominent cryptocurrency trading platform, is reportedly considering a U.S. initial public offering (IPO) or potential acquisition as major financial institutions show heightened interest. The company has enlisted FT Partners, a leading fintech investment bank, to evaluate strategic options. This move signals Uphold's ambition to scale its operations and expand its market presence.

CEO Martin McLoughlin confirmed ongoing discussions with potential buyers, including banks, brokers, and payment firms, though valuation details remain undisclosed. Market speculation suggests a figure around $1.5 billion. The timing aligns with renewed IPO enthusiasm in crypto fintech, fueled by peer-to-peer payments company Circle's successful public debut and subsequent stock surge.

Uphold's revenue growth underscores its trajectory—climbing from $80 million in 2022 to $300 million recently. The platform's potential listing could further validate institutional adoption of digital asset infrastructure.