Uphold, the trading application allowing users to exchange a range of assets from Bitcoin to gold, might soon be heading to Wall Street. The firm is reportedly evaluating an IPO or a possible acquisition while focusing on its loyal XRP user base.

IPO? Acquisition? Something Big Is Brewing

Rumors indicate that Uphold has engaged FT Partners to outline its next steps, considering either going public in the U.S. or selling the company altogether. Both options could lead to a valuation exceeding $1.5 billion, a significant achievement in a market where many firms have adopted a defensive stance.

JUST IN: Uphold exploring IPO while courting XRP-avid US consumers, CEO says 📊
— Crypto News (@CryptoNewsAnon) June 9, 2025

Recent developments see a number of crypto companies approaching public markets. Circle has just priced its IPO, and Gemini has filed confidentially, signaling that crypto firms perceive an opening to enter the market once more. Uphold aims to capitalize on this opportunity.

Why XRP Is the Star of the Show

Here’s where it gets exciting. While other crypto firms have remained cautious regarding XRP, Uphold has chosen to fully support it. Throughout the SEC’s litigation against Ripple in 2020, other exchanges pulled XRP listings; however, Uphold kept it available for U.S. users, significantly bolstering its reputation among the XRP community.

As Ripple recently enjoyed partial victories in court, XRP trading volume surged to nearly three billion dollars on a single day. Uphold is banking on this fervor to fuel interest in its potential IPO.

Crypto’s Comeback Makes This a Smart Moment

The timing of this move coincides with a resurgence in the crypto market. Bitcoin is reaching previous high levels, and institutional interest is once again increasing. Additionally, U.S. regulators are establishing clearer guidelines for cryptocurrency transactions.

Circle’s successful, straightforward crypto IPO showcases the viability of such an approach, particularly if a clear product and revenue model exists. Uphold hopes to leverage this momentum, especially as the tumultuous SPAC days seem to be fading away.

A Closer Look at Uphold’s Playbook

Founded in 2015, Uphold has evolved into a trusted multi-asset trading platform, supporting crypto, fiat, and tokenized gold within a single account. While it may not be the flashiest option, its straightforwardness appeals to users.

Uphold’s commitment to supporting XRP in the U.S., particularly when competitors were distancing themselves, has fostered significant user trust. The company’s tools and insights for XRP have solidified its relationship with this community.

What to Watch for Next

Currently, nothing is finalized; IPOs require time, and any sale would come with its negotiations. Signals show that Uphold is testing the waters; if the XRP community rallies support, it could create substantial momentum for the company.

This could inspire other crypto exchanges to pursue similar paths. If Uphold succeeds, it might not be the last exchange to enter the public market this year, with a potential trend shifting toward companies that emphasize loyal users.

Key Takeaways

• Uphold is considering an IPO or potential acquisition, targeting a valuation over $1.5 billion with FT Partners’ guidance.
• The company has garnered trust from the XRP community by continuing to list the token amid Ripple’s legal challenges.
• With recovering crypto markets and clearer U.S. regulations, Uphold perceives an opportunity for public listing.
• Uphold distinguishes itself by providing a platform for various assets, unlike conventional exchanges.
• A successful IPO could motivate other crypto firms to follow suit, highlighting the importance of community loyalty.