OKX crypto exchange considering US IPO after local relaunch: Report

Major planetary cryptocurrency speech OKX is reportedly considering a nationalist listing successful the United States pursuing its relaunch successful the country.

OKX is weighing an archetypal nationalist offering (IPO) successful the US, with a imaginable listing connected a section exchange, The Information reported connected Sunday. OKX resumed operations successful the US successful April.

“From IPOs to crypto treasury stocks, crypto is booming close now, but the rally is playing retired successful the banal market, astatine valuations that adjacent amazed manufacture insiders,” the article’s author, Yueqi Yang, said successful a station connected X.

OKX declined to remark connected the reported plans erstwhile contacted by Cointelegraph.

OKX is astir to beryllium blocked successful Thailand

OKX’s imaginable US IPO comes arsenic the speech faces regulatory pressures successful Asia.

In precocious May, Thailand’s securities regulator, the Thai Securities and Exchange Commission, announced it would block OKX from operating successful the country alongside 4 different exchanges, including Bybit, 1000X, CoinEx and XT.COM

“The SEC advises each investors utilizing these platforms to instrumentality indispensable enactment regarding their assets earlier the shutdown date,” the bureau said.

Circle’s IPO success

An OKX IPO would travel the palmy listing of Circle, the issuer of the USDC (USDC) stablecoin.

After multiple IPO upsizings successful effect to monolithic capitalist demand, Circle shares opened connected the New York Stock Exchange astatine $69 connected June 5. Since the nationalist launch, the Circle banal (CRCL) had soared astir 250% by past Friday, concisely topping astatine $248.9.

Circle (CRCL) all-time terms chart. Source: TradingView

Circle’s USDC partner, the US cryptocurrency speech Coinbase (COIN), has been publically trading for much than 4 years since its Nasdaq motorboat successful April 2021. Coinbase shares closed astatine $308.4 connected Friday, down astir 19% since its nationalist launch, according to TradingView.

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This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.