Gemini reportedly secretly applied for a US IPO, which may become a bellwether for the re-listing of US crypto-compliant exchanges

According to market news, cryptocurrency trading platform Gemini has secretly submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC), planning to be listed on Nasdaq or NYSE. If the news is true, this will be another crypto platform with compliance as its core strategy trying to enter the U.S. capital market after Coinbase.

Gemini was founded by Cameron and Tyler Winklevoss in New York, USA in 2014. The two were well-known for their early lawsuits with Facebook founder Zuckerberg. As one of the first platforms to obtain a virtual currency license (BitLicense) issued by the New York Department of Financial Services (NYDFS), Gemini has always positioned "regulated, safe and transparent" as its core brand positioning, and its service targets include retail investors, institutional clients and custody users.

In addition to spot trading services, Gemini also provides crypto asset custody, institutional trading platforms, credit card cashback Bitcoin functions, and the recently launched Gemini Earn income product. The company is also actively expanding its global market, entering the UK, Singapore and Australia, and trying to launch the offshore derivatives platform Gemini Foundation to cope with regulatory restrictions in the US domestic market.

It is reported that Gemini's IPO application is still in the preliminary stage, and key details such as the proposed financing scale, target valuation or underwriting team have not yet been disclosed. However, market analysts believe that this move may be a strategic deployment for the company to seek a new round of growth capital and compete with similar platforms. Since the collapse of FTX and a number of industry turmoil events, the market has become more and more favorable to compliant and stable crypto platforms, and Gemini's brand image may become an important plus for it to gain favor from the capital market.

If successfully listed, Gemini will become the second major crypto asset trading platform in the United States to land on the public market after Coinbase (COIN). This will not only bring funds and public exposure to the company, but also is expected to reshape the market's confidence in the sustainable business model of compliant crypto companies, and also provide an important demonstration for other Web3 companies seeking a public path.

At present, Gemini has not yet made an official response to the IPO news.