Crypto trading network- Apifiny may soon ‘Go Public’ to steer growth

Crypto trading network- Apifiny may soon ‘Go Public’ to steer growth

The platform currently supports spot exchanges, however, it plans to add derivates exchanges in the near future

California-based digital asset trading network- Apifiny has reportedly signaled its decision to go public in a bid to help the company accelerate its growth. The news comes shortly after the firm signed deals with many different crypto exchanges.

In a statement, Apifiny said that it aims at increasing its growth rate by going public. The company is working towards executing the plan and completing the process by the end of 2021. Although, Apifiny has refused to disclose any details regarding the same and is unclear if it wishes to start with an initial public offering or take the most popular route of SPAC.

Notably, the blockchain startup connects to the wide global cryptocurrency exchanges along with providing a single market window to traders. It also allows access to foreign crypto exchanges for traders in the U.S. and offers the best possible pricing across connected exchanges.

Incorporated in 2019, the company is rapidly expanding its industry partnership and has brought on-board ten new cryptocurrency exchanges in the last three months, taking the total number to 24. Some of the notable exchange partners include OKEx, BitMax, Huobi Global and HBTC.

As of now the platform only supports spot exchanges, however it plans to add derivates exchanges in the near future.

Commenting on regulatory complications, Apifiny mentioned that most of the exchanges do not take on U.S. clients, while few do. The company focuses on connecting to each exchange which is comfortable to worth with an American client.

It is worth noting that the company has shown robust growth since its inception with the trading volume growing by 4 times to USD 898.5 million in Bitcoin in the last three months.

Source Credit: https://www.financemagnates.com/cryptocurrency/news/blockchain-startup-apifiny-plans-to-go-public/