TL;DR
- CFTC Applications: Blockchain.com has applied for a designated contract market license and futures commission merchant registration.
- Product Expansion: The company already provides prediction markets through Polymarket and perpetual futures through Hyperliquid for non-U.S. users.
- IPO Preparation: The company is also pursuing a potential public listing after confidentially filing for an IPO and reportedly targeting a fundraising round of about $500 million at a valuation between $4 billion and $6 billion.
Blockchain.com is taking another step in its expansion strategy after applying for two U.S. licenses that could allow it to offer prediction markets and crypto derivatives to American customers. According to a CNBC report, the crypto wallet and trading platform has submitted applications for a designated contract market license and registration as a futures commission merchant, both of which fall under the oversight of the CFTC.
If approved, the move would significantly expand the range of regulated products available through Blockchain.com in the United States. The applications arrive at a time when the company is broadening its offerings and positioning itself for future growth across several segments of digital finance.
Licenses Could Unlock New U.S. Products
The proposed regulatory approvals would enable Blockchain.com to bring products that are currently limited to international users into the U.S. market. At present, Blockchain.com provides access to prediction markets through Polymarket and offers perpetual futures through Hyperliquid for customers outside the United States. Approval of the new licenses would open a path for Blockchain.com to extend those services to U.S. users as well.
Chief Executive Officer and co-founder Peter Smith said users should be able to manage digital assets, trade derivatives, and take positions on real-world events without needing to switch between multiple applications. The vision reflects Blockchain.com’s effort to create a more unified platform experience for customers seeking exposure to a wider range of financial products.
Expansion Efforts Continue Across Multiple Fronts
The licensing push follows another recent initiative from Blockchain.com. In September, the company reached an agreement with the New York Stock Exchange that is expected to provide Blockchain.com users with access to tokenized U.S. stocks and ETFs through the exchange’s planned digital trading platform. The latest applications also come as the company continues preparations for a potential public market debut.
The company confidentially filed for an initial public offering in May and has reportedly been targeting a listing before the end of 2026. Recent reports indicated that Blockchain.com was seeking to raise roughly $500 million at a valuation ranging between $4 billion and $6 billion. The planned IPO would mark another milestone in the company’s long-running effort to enter public markets.
Public Listing Ambitions Date Back Years
Although momentum around the company’s growth plans has increased, the company has pursued public listing ambitions for several years. Back in April 2022, Blockchain.com was reportedly in discussions with banks regarding a potential stock market listing after securing funding at a $14 billion valuation. The latest licensing applications suggest Blockchain.com is continuing to build out its business as it works toward its broader strategic goals.
