What to know:

• Gemini has hired a new CFO as it enters its next growth phase.
• The company is reportedly exploring an initial public offering (IPO).

Crypto exchange Gemini has appointed Dan Chen as its new chief financial officer to support its potential IPO ambitions. Previously the vice president of capital markets at Affirm, Chen shared the announcement via social media.

“Crypto is the most dynamic sector in finance and Gemini is at the forefront of this revolution — making it simple and secure to engage on the digital asset frontier,” Chen mentioned in his post.

Chen will collaborate with co-founders Cameron and Tyler Winklevoss to drive the company’s growth. The appointment coincides with Gemini’s IPO aspirations, which could enhance access to funding while adhering to public market transparency standards.

If Gemini proceeds with its public offering process, it will join a select group of crypto-native businesses considering IPOs in U.S. stock exchanges, including Kraken, Circle, Bullish (the parent company of CoinDesk), and Blockchain.com.

Though Gemini has not officially confirmed its IPO plans, hiring a CFO experienced in financial strategy indicates potential preparations are underway.