Singapore Crypto Exchange Considers IPO After 500% Trading Growth: Report

Crypto exchange Coinhako is considering an initial public offering after seeing January-May trading volume 500% higher than for the whole of 2020.

  • The Singapore-based company predicts volume will top $7 billion by the end of 2021, according to a report by Forkast on Tuesday.

  • The exchange has over 300,000 registered users in the city-state, with an average of 150,000 active each month.

  • Coinhako, which was launched in 2014 with backing from venture capitalist Tim Draper, is considering an IPO, Forkast said.

  • “Given how the crypto markets in the U.S. and Europe have developed, we believe it is only a matter of time that the crypto industry in this part of the world will likewise take off,” Coinhako CEO Yusho Liu said.

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