Initial Public Offering Under Discussion

FalconX has initiated exploratory talks regarding an initial public offering (IPO), aiming to capitalize on the current crypto market trend, according to three sources close to the situation.

The brokerage is reported to be assessing the potential “blockbuster” move, which would seek to align with escalating institutional interest in digital assets. However, the firm has not yet engaged an investment bank, signifying these are preliminary discussions.

These steps aim to underline FalconX’s ambition as it pursues a stance of becoming a “financial services provider for the next generation of crypto,” fostering momentum amidst rivals signalizing their own market entries.

Context: A Cryptocurrency IPO Boom

Several prominent cryptocurrency entities have executed or signaled upcoming public listings in 2025. Stablecoin issuer Circle’s $1.1 billion listing is considered the largest crypto IPO to date, partly fueling the broader trend. Significant players like Fold, Exodus, eToro, Bullish, Gemini, Kraken, and Tron Group have followed this path.

FalconX’s Background

Established in 2018, FalconX started as a crypto-focused prime brokerage offering direct exchange access. It has since expanded into a comprehensive digital assets provider, encompassing markets, custody/staking, and prime brokerage/direct market access services.

FalconX recently bolstered its prospects with strategic partnerships and acquisitions. Notably, the integration of Standard Chartered’s banking infrastructure and Cantor Fitzgerald’s $200 million Bitcoin collateralized credit facility showcase its commitment to serving institutional clients.

Driven by founder Raghu Yarlagadda, FalconX’s stated strategy involves targeting complementary services via partnerships or acquisitions to better serve customer needs within the evolving digital asset landscape. Its 2022 funding round secured an $8 billion valuation.