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MaiCoin, a Taiwanese crypto exchange, is considering a Nasdaq IPO

The MaiCoin Group, which manages Taiwan’s largest cryptocurrency exchange, is considering listing on the Nasdaq stock exchange within the next two years. Liu, a Stanford University graduate who previously worked at Qualcomm Inc., established the firm in 2014.

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The company is nearing the end of a $400 million Series C investment round. MaiCoin will use the money to fund the company’s growth throughout Southeast Asia. 

Why it’s a big deal for the company?

Completing a first-time share sale in the United States would be a remarkable feat for this Taiwanese company. Over the last five years, just two Taiwanese firms have achieved US IPOs, one of which is a special purpose acquisition company (SPAC).

Which regulations existed in the past?

In terms of Taiwan’s regulatory environment, the island’s Financial Supervisory Commission has been warning investors about the hazards of cryptocurrencies since July of last year, but it hasn’t taken any serious measures to limit trade.

While governments from Singapore to Hong Kong are tightening their grip on cryptocurrency trading, Taiwan has yet to enact any official legislation, other than requiring companies to prepare for anti-money laundering measures. As a result, according to the country’s banking authority in January, only three of the 16 crypto exchanges have finished the procedure.

Future expectations of the company

According to a fundraising document, MaiCoin anticipates trading income to increase by more than 70% yearly through 2025. In addition, it expects its crypto trading business to develop at a similar rate. 

Taiwan accounts for roughly 80% of the company’s sales. Both exchange and brokerage firms make up the same percentage of the company’s revenue.