Uphold Eyes $1.5B+ IPO or Sale, Leveraging XRP Ecosystem & Ripple Partnership Amid Revenue Surge
Digital asset trading platform Uphold is evaluating a US initial public offering (IPO) or strategic sale with the goal of securing a valuation above $1.5 billion, signaling growing institutional engagement in the crypto sector. CEO Simon McLoughlin confirmed that FT Partners is advising on options, including a potential Nasdaq listing or a merger/acquisition by financial institutions. Uphold has seen rapid revenue growth—annual revenue rose from $80 million in 2022 to an expected $300 million by 2025—driven by retail expansion and enterprise partnerships with firms like a major German bank. The company stands out by supporting a range of assets, including crypto, fiat, and tokenized commodities, and is recognized as a key liquidity provider for the Ripple ecosystem, maintaining XRP trading through regulatory headwinds and listing Ripple’s RLUSD stablecoin early.
Recent activities underscore Uphold’s US market push, such as launching an XRP-reward debit card and collaborating with Flare Network to offer XRP yield opportunities. This follows the recent IPO of competitor Circle, whose shares soared over 300%. The news suggests heightened investor and trader interest in platforms with diverse asset offerings and established relationships with major crypto projects like Ripple. For traders, this may mean increased momentum and liquidity for XRP and related assets, as well as greater market competition among compliant multi-asset platforms.
Bullish
Uphold’s potential IPO or strategic sale, combined with its strong ties to the Ripple ecosystem and continued support for XRP, is likely to boost investor and trader confidence in the platform’s long-term stability and growth. The rapid revenue increase and unique offerings such as multi-asset support and XRP yield products further differentiate Uphold from its competitors. Competitor Circle’s recent successful IPO, which spurred a sharp stock surge, suggests that equity markets are increasingly receptive to crypto firms. For crypto traders, especially those focused on XRP and the Ripple ecosystem, these developments are likely to drive renewed buying interest and enhance liquidity in the short term. In the longer term, Uphold’s institutional partnerships and innovative products could set a precedent for similar exchanges, potentially leading to broader adoption and a positive feedback loop for XRP liquidity and market activity.