The digital asset trading platform Uphold is considering an IPO in the US or seeking a sale.

Gate News bot news, Uphold and its CEO Simon McLoughlin revealed that the Uphold board has “appointed” FT Partners to explore strategic options, including an IPO in the United States or a sale to another company.

“Currently, many banks, brokers, financial institutions, and payment companies have expressed interest,” McLoughlin said, “therefore, a trade sale could also be an option.”

Although McLoughlin was reluctant to comment on the valuation, a source familiar with the matter stated that the valuation is above $1.5 billion. FT Partners has not immediately responded to a request for comment.

On this occasion, the American company Circle has just successfully gone public. Circle’s stock was listed last week at a price of $31 and surged over $115 on Monday, totaling an increase of over 300% so far.

At the end of last month, Uphold announced that it is exploring ways to unlock XRP earnings through the Flare Network and will launch a U.S. debit card that allows consumers to earn XRP rewards.

Uphold is a digital asset trading platform dedicated to providing a simpler and more user-friendly interface, where users can buy, sell, and hold cryptocurrencies. The company launched a self-custody wallet called Vault supporting XRP in December 2023.

Source: The Block

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