Blockchain platform Chia Network Inc. explores a traditional IPO as soon as this year, according to Bloomberg. The listing endeavor comes after the company hit about $500 million valuation after a funding round in which it raised $61 million.
Listing through a merger with the “right” blank cheque entity is also being considered.
Chia wants to list as quickly as possible to clarify its compliance needs and enable customers to use currency as a hedge against volatilities in public markets.
Chia aims to make the use of digital assets as easier as cash.
The digital currency platform considers itself eco-friendly, pointing to its less-energy intensive operations compared to traditional mining.
President and chief operating officer Gene Hoffman says Chia is the largest storage-related blockchain, almost double that of Filecoin.
David Frazee of Richmond Global considers Chia as compliant, secure, and auditable.
Major cryptocurrencies are currently gaining. BTCUSD is up 1.53%, ETHUSD is up 0.29%
