Taiwan’s Largest Cryptocurrency Exchange Is Aiming For A $400 Million Valuation.
MaiCoin, Taiwan’s largest cryptocurrency exchange, is potentially raising a Series C funding round that could value it at $400 million.
According to a Bloomberg article, the corporation is considering joining partner exchange Coinbase in going public on the Nasdaq stock market in the United States within the next two years.
Maicoin is a cryptocurrency exchange that allows users to trade BTC, SOL, and ADA, among other currencies, as well as receive yield on ETH and USDC.
The Taiwan dollar can be used by exchange traders via domestic bank transfers. They may also purchase cryptocurrency from a variety of convenience shops.
According to firm records seen by Bloomberg, it anticipates trading income to increase by more than 70% each year until 2025, with Taiwan accounting for 80% of total revenue. The fresh money will be used to expand into Southeast Asia, according to the exchange.
The announcement comes as cryptocurrency exchanges throughout the world make huge pushes for worldwide development. On Tuesday, Crypto.com launched its US exchange platform, while on Wednesday, FTX expanded into Africa by collaborating with payments business AZA Finance.
According to CoinGecko data, MaiCoin’s MAX exchange has a daily trading volume of roughly $20.4 million.
MaiCoin is also supporting a Taiwan dollar stablecoin initiative, although regulatory difficulties from the island’s Central Bank may stymie its progress.
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