Taiwan's MaiCoin Crypto Exchange Weighs Nasdaq Listing: Report
The exchange is considering a share sale within two years, though it has yet to reach a decision.
Mar 18, 2022 at 10:38 a.m. UTCUpdated May 11, 2023 at 4:01 p.m. UTC
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MaiCoin, a crypto exchange based in Taipei, is considering selling shares on Nasdaq within two years, Bloomberg reported, citing people with knowledge of the matter. A definitive decision, however, has yet to be made.
- The exchange is completing a Series C funding round that may value the company at $400 million, Bloomberg said.
- MaiCoin did not respond to a request for comment from CoinDesk.
- The exchange makes the majority of its revenue from Taiwan, according to publicly available figures. It counts Taishin Venture Capital, a subsidiary of Taiwan’s Taishin Bank, as one of its investors.
- Traders on the exchange are able to use the Taiwan dollar through domestic bank transfers. They can also buy crypto at many convenience stores.
- MaiCoin expects trading revenue to rise more than 70% annually through 2025, documents reviewed by Bloomberg showed.
- MaiCoin’s MAX exchange pushes around $20.4 million trading volume a day, according to data from CoinGecko.
- A Taiwan dollar stablecoin project is also being backed by MaiCoin, but regulatory challenges from the island’s Central Bank may hamper its development.
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