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.
Read more: Singapore-Listed Blockchain Firm Buys Crypto Staking Platform Moonstake