Blockchain.com Has Processed $1 Trillion in Crypto Transactions. CFO Reveals IPO Plans

2021-09-03 23:52:17 Primitive Reading

Blockchain.com —former Blockchain.info— one of the OGs of the crypto industry, announced today that as it nears its first decade in the market, it was able to process $1 Trillion in crypto transactions.

Macrina Kgil, CFO of Blockchain.com, shared the news on her institutional blog, noting that this statistic only covers Bitcoin transactions between real cryptocurrency users, leaving out the trading volume handled by the company’s exchange.

We recently hit a major milestone at Blockchain.com, surpassing more than $1 trillion in crypto transacted on our platform. To put that number into context, we’ve handled nearly a third of all bitcoin network transactions since 2012.

Blockchain.com has perhaps one of the best-known Bitcoin wallets in the world. It once exclusively supported Bitcoin but evolved to support BTC, BCH, ETH, XLM, and Pax Dollars. It also offers integration with its own crypto exchange, interest-bearing savings services, support for hardware wallets, and more.

A Succesful Business Strategy

For Macrina Kgil, the key to Blockchain.com’s success is due to its business strategy and the way the company has adapted to changes in the industry over the years.

Macrina Kgil thinks there are at least “three main drivers behind this growth.”

First, public preference: There are currently 76 million users of the Bitcoin wallet worldwide. The wallet is also at the top of the most downloaded cryptocurrency wallets on Android.
Second, the relationship with institutional investors: Blockchain.com has been able to attract high-quality wealthy investors and has managed to capitalize on institutions’ interest in getting exposure to Bitcoin over the past two years.
Third, its recent brokerage and exchange business: For Macrina Kgil, the blockchain.com exchange has seen significant growth over the past 6 months as cryptocurrency markets heat up.

Macrina Kgil is confident that this multi-pronged strategy has proven to be successful and will continue to be the focal point for Blockchain.com going forward.

What makes Blockchain.com unique is that we have a thriving business in three key parts of the market. With diverse sources of revenue, great products to meet consumer demand, and a team in place, we’re confident we’ll see sustained growth for years to come.

Blockchain.com Is Considering an IPO

Speaking with Forbes, Macrina Kgil revealed Blockchain.com’s intentions of going public. The company wants to follow Coinbase and Robinhood and improve its position among North American investors. The stock market could be a year and a half away:

“An IPO is possibly 18-months or more away”

Back in March of 2021, Blockchain.com raised over $300M in funding at a $5.2B post-money valuation. The round followed another one of $120 Million in February of 2021.

Google Ventures, Lightspeed Venture Partners, DST Global, and VY Capital are among those financing the company’s growth.

Disclaimer: This specification is preliminary and is subject to change at any time without notice. Amazon Finance assumes no responsibility for any errors contained herein.