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.