Singapore Crypto Exchange Considers IPO After 500% Trading Growth: Report

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 areportby 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 withbackingfrom 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.