Crypto brokerage Blockchain.com confidentially files for IPO

May 21 (Reuters) - Crypto brokerage ‌Blockchain.com said on ​Thursday ​it has confidentially filed for an initial public offering in the United States, as digital assets markets show signs ‌of a rebound after a choppy period.

Since a record crash ⁠in October, the crypto markets have remained under pressure as a broad risk-off ‌mood took hold among investors, ‌slowing the pace of new listings.

Crypto asset manager Grayscale Investments took the wraps off its IPO filing in November, while crypto exchange ​Kraken announced a confidential New York IPO in the same month, though neither has since moved ahead with their listing plans.

However, ⁠sentiment in crypto markets has slightly improved in recent weeks amid constructive regulatory developments.

A U.S. ​Senate committee last week advanced long-awaited legislation to regulate cryptocurrencies, marking a landmark step for the bill.

Bitcoin, the world's ​largest cryptocurrency, has gained about 20% ‌in the past three months, but remains 12% down this year.

Blockchain.com's confidential filing kicks off a regulatory review ⁠process that usually takes at least two to three months and gives the company the option to move ahead with its listing plans when the ⁠market window opens for crypto firms.

Confidential filings allow companies to keep their finances under ​wraps until closer to the listing and prepare for IPOs away from public market scrutiny.

Co-founded by Ben Reeves, Peter Smith and Nic Cary in 2011, Blockchain.com's ‌platform allows millions of users in more than 100 countries to invest in cryptocurrency. It has facilitated over $1.1 ‌trillion in crypto transactions.

The number of shares to be offered and the ⁠price range for the proposed ‌offering have not yet ​been determined, Blockchain.com said.

(Reporting by Arasu Kannagi Basil in Bengaluru and Hannah Lang in New York; Editing by ‌Vijay Kishore)

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