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Uphold is exploring IPO while attracting XRP-enthusiast consumers in the US.
Uphold, a trading application that allows users to swap everything from Bitcoin to gold, is considering the possibility of an initial public offering (IPO) to attract American consumers who favor XRP. CEO Simon McLoughlin stated that the board has appointed FT Partners to explore strategic options, including an IPO in the United States or selling to another company. He also emphasized that many banks and financial institutions are interested in Uphold. Although no specific valuation was disclosed, a source indicated that the value could exceed 1.5 billion USD.
Uphold has attracted attention by announcing the issuance of a debit card in America that allows consumers to earn XRP rewards. With expected revenue exceeding 300 million USD this year, the company is rapidly growing and considering the possibility of acquiring other companies in the industry.