Crypto services company Blockchain.com has applied for an initial public offering in the United States on a confidential basis, Cointelegraph reported on May 21.

Blockchain.com submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission related to a Class A common stock offering, the report said. The offering price and number of shares have not been decided. The IPO could vary depending on market conditions and the SEC review.

Founded in 2011, Blockchain.com has more than 95 million wallets and more than 43 million verified users. It provides a consumer trading platform, wallet services and products for institutions.

Over the past year, several large crypto companies have reviewed listings, but plans have often changed depending on market conditions.

Crypto trading platform Backpack Exchange said in February it would pursue a U.S. IPO. Digital asset custodian Copper was known to have reviewed an IPO in January, but this week it is considering a sale instead of a listing, Cointelegraph reported.

Unlisted crypto exchange Kraken was reported to have halted plans in March amid a bear market, after its parent company Payward confidentially applied for an IPO in November last year.