Pro-XRP Exchange Uphold Considers $1.5B IPO or Pot

Just weeks after promoting several XRP-related initiatives, the Uphold crypto exchange is now focusing on broader strategic moves, including a potential IPO or sale.

In a recent interview, Uphold’s CEO, Simon McLoughlin, disclosed that the exchange is considering going public through an IPO in the United States or potentially selling itself to another firm. 

In line with this strategic vision, McLoughlin said the exchange’s board has hired Financial Technology (FT) Partners to evaluate the options of a potential sale or IPO. According to him, several financial institutions, including banks and payment firms, are courting Uphold, and he suggests that a trade might be an option. 

$1.5B Public Offering? 

Despite the disclosure, McLoughlin did not reveal the potential valuation Uphold is targeting for its IPO. However, a source with direct knowledge of the matter disclosed that the valuation could exceed $1.5 billion. 

Discussions around Uphold’s IPO come less than a week after USDC stablecoin issuer Circle saw significant success with its public offering.

Notably, Circle’s shares (CRCL) hit an all-time high of $137 yesterday, marking a 341% increase from their initial price of $31. However, the stock has since dropped to $115.