[DigitalToday reporter Hyunwoo Choo] Crypto financial services firm Blockchain.com is pursuing an initial public offering this year and is considering raising $500 million. CoinPost, a blockchain outlet, reported on Sept. 29 that Blockchain.com told investors it is seeking a valuation of $4 billion to $6 billion.

Blockchain.com submitted confidential IPO filing documents to the U.S. Securities and Exchange Commission this year. On an adjusted basis, it posted profits for three consecutive years.

The push to list comes as the cryptocurrency market recovers. Bitcoin rebounded after a sharp fall a year ago and has risen 33 percent since mid-August.

Blockchain.com began in 2011 as a transaction tracking service created by three participants in the early bitcoin online forum Bitcointalk. It later added wallet and exchange functions.

The company raised $110 million in 2023 led by British investment firm Kingsway Capital. Its valuation at the time had fallen to less than half of $14 billion in spring 2022.

Blockchain.com has raised a total of $537 million in equity capital. In September, it has been considering a plan with the New York Stock Exchange to provide 24/7 access to tokenised U.S. stocks and exchange-traded funds.