tl;dr
FalconX, a cryptocurrency prime brokerage firm valued at $8 billion in 2022, is in early talks to pursue an initial public offering (IPO) potentially as soon as this year to meet growing institutional demand for digital assets. The firm has held informal discussions with bankers and consultants but ...
FalconX, a cryptocurrency prime brokerage firm valued at $8 billion in 2022, is in early talks to launch an initial public offering (IPO) this year to capitalize on growing institutional demand for digital assets. The firm has engaged in informal discussions with bankers and consultants but has not yet hired an investment bank, marking a preliminary step toward going public.
The company aims to raise its public profile and secure fresh capital to support increased dealmaking and strategic partnerships. FalconX has expanded its business beyond prime brokerage into full digital asset services, encompassing markets, custody and staking, and direct-market-access brokerage services. Recent strategic moves include the acquisition of Arbelos Markets, a crypto derivatives-focused trading firm, and partnerships with Standard Chartered and Cantor Fitzgerald, enhancing its institutional and banking service offerings.
This IPO consideration aligns with a broader surge in public listings within the cryptocurrency sector in 2025. Multiple firms such as Circle, Bullish, Gemini, Kraken, and Tron Group have either completed or announced plans for IPOs, reflecting rising investor appetite and market confidence in digital assets. Circle's $1.1 billion public listing in June 2025 stands as the largest crypto IPO to date, fueling momentum in the sector.
Founded in 2018, FalconX has transitioned from a specialized prime brokerage to a comprehensive financial services provider in the crypto space. Its three verticals—markets, custody and staking, and prime brokerage—allow it to operate similarly to a principal trading business, committing capital on behalf of clients. The firm continues to explore partnerships and acquisitions to address service gaps and broaden its client offerings amid a booming interest in cryptocurrencies.
By potentially going public, FalconX seeks to tell its story to the investing public, strengthen its capital base, and position itself as a leading financial services provider for the next generation of crypto investors. This move, if realized, will mark another significant milestone in the rapidly evolving landscape of digital asset finance and institutional adoption.