tZero Group, a blockchain company based in New York that focuses on tokenized securities, has announced its intention to go public by 2026. This decision aligns with a rising trend of cryptocurrency firms considering public listings following the establishment of clearer regulations in the U.S.
On Monday, tZero revealed its plans for an initial public offering (IPO) in the United States. Founded in 2014, the company assists businesses in raising capital and trading securities using blockchain technology within the framework of U.S. securities laws, including private offerings.
CEO Alan Konevsky stated to Bloomberg that while the company is negotiating with various banks, an underwriter has yet to be selected. He noted that tZero, which currently employs just over 50 staff and is not yet profitable, may seek additional funding before the IPO.
Tokenization refers to the conversion of tangible assets, such as fiat money, stocks, and real estate, into digital tokens on a blockchain, enabling their continuous online trade.
tZero views its public offering as indicative of the growing belief that asset tokenization will be fundamental in enhancing capital formation and facilitating international transactions.
To date, the firm has raised approximately $200 million, with notable investments from the Intercontinental Exchange, which owns the New York Stock Exchange (NYSE).
Rising Tide of Crypto IPOs
The recent regulatory improvements in the U.S., including the passage of the GENIUS Act in July, coupled with the pro-cryptocurrency policies established during the Trump administration, have fostered a more conducive environment for crypto companies contemplating public trades.
In June, stablecoin issuer Circle launched an IPO on the NYSE with a valuation exceeding $1.05 billion, and its stock climbed 167% on its debut trading day. The crypto exchange Bullish also went public on the NYSE in August.
Additionally, Gemini, founded by Cameron and Tyler Winklevoss, debuted on the Nasdaq in September after raising its IPO expectations ahead of the launch.
Reports indicate Kraken is also aiming for a listing in 2026, having raised $500 million in September at a valuation of $15 billion amid increasing IPO speculation.
