Crypto trading platform Apifiny is planning to go public by the end of 2021, the company announced Tuesday.
Following in the footsteps of Coinbase and INX, San Francisco-based Apifiny plans use the funds raised through the listing to finance an aggressive expansion this year,
“We think [there are] more vertical ways to improve these products,” said Haohan Xu, CEO of Apifiny. These include “having better algorithms, faster connections, having more robust servers that can process more transactions per second.”
The firm’s main two product lines include Apifiny Connect, which lets institutional traders access cryptocurrency exchanges around the globe, and ExOne Plus, a market-making platform for smaller exchanges that need liquidity. Apifiny says it uses its connections to exchanges around the globe to enable better price discovery, which it uses to hedge trader’s positions.
In the past few months, the firm has added Crypto.com, Huobi Global, OKEx, Kucoin, BitMax, HBTC and Blockchain.com to its list of exchange partners.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.