Uphold, the multi-asset crypto trading platform, is reportedly seeking a potential sale to a payments firm with $1.5 billion target.
Besides this, the New York-headquartered firm is also considering the Initial Public Offering (IPO) amid the bullish momentum.
The firm has reportedly hired FT Partners – according to the block – to consider both the strategic options.
The move comes amid a broader wave of consolidation and public listings across the crypto industry. Past week, Circle’s debut on the New York Stock Exchange with whooping 347% gain underscored growing institutional appetite for regulated digital-asset firms. Meanwhile, leading crypto exchange Gemini has also signaled ambitions to tap public markets.
Uphold’s Recent Striking Developments in Web3
It is interesting to note that this update from Uphold comes on the heels of its recently wrapped up XRP Las Vegas. The firm has been making significant developments around the expansion of its services and geographies it reaches.
The most important among these have been its partnership with IG Index, which made it the first public company to offer crypto trading in UK.
As the institutional-grade platform, Uphold defines its goal as “helping banks, brokers, and payment firms incorporate digital asset and blockchain technologies.” Thus, explains why the crypto asset firm is looking for a payments fitm as the potential buyer of itself. It has recently also launched Uphold Card and Direct Deposits both giving out XRP yields.
🚨 JUST ANNOUNCED!
You wanted it. You waited. It’s happening.
The Uphold Card is officially coming back to the U.S.
We’ve been working behind the scenes, and it’s almost time.
Details coming soon.
🇺🇸💳👀 pic.twitter.com/vNgVlHDPxt
— Uphold (@UpholdInc) May 30, 2025
Important Stats for the Buyer
With its “Anything-to-Anything Trading” model, Upholf offers trading, custodial wallets & accounts , staking services for multiple assets including Crypto, fiat and precious metals. In recent quarters, its transaction volumes have hovered in the $10–15 billion range.
For Q4 2024, its volume stand at approximately $12 billion in aggregate traded value. During the same time period, it added ~2 million net new accounts, bringing the total to ~28 million. This ended up generating roughly $100 million in gross revenue with 70% coming from trading fees and rest 30% earned from interest income.
While for the most recent Q1 2025, its volume rose to $15 billion, witnessing a 25% increase QoQ. The revenue grew to $125 million up 25% QoQ. This has been driven by higher volumes and elevated interest rates on reserves backing USDC and other stablecoins.
Uphold also holds compliance approvals from bodies such as FinCEN in the U.S. and the U.K.’s Financial Conduct Authority. Thus, if a deal materializes, it would mark one of the largest M&A transactions in the digital-asset sector so far this year.
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Disclaimer: The content may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
