After surpassing $1 trillion in crypto transactions, Blockchain.com’s CFO suggests going public in 2023.

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Kraken, a cryptocurrency exchange, and Circle, a stablecoin-focused startup, have both expressed interest in going public.

According to Macrina Kgil, chief financial officer of crypto wallet provider and exchange Blockchain.com, an IPO for the platform might take place as early as 2023.

Kgil indicated in a Forbes interview published on Monday that Blockchain.com could consider an IPO in 18 months or more. The company was valued at $5.2 billion after a $300 million investment round in March and a $120 million round in February.

CEO Peter Smith stated at the time that the company was “seriously reviewing its public-market options.” Coinbase, a major cryptocurrency exchange, did not go public on the Nasdaq until April, when the company reportedly had a $100 billion valuation and Coinbase Pro handled more than $3 billion in daily transactions.

 

Kgil stated in a Monday blog post that Blockchain.com has crossed $1 trillion in crypto transactions, which were most likely driven by retail and institutional adoption via the platform’s brokerage and exchange division. She went on to say that the company’s financial sheet is made up of Bitcoin (BTC), Ether (ETH), altcoins, and cash.

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Blockchain.com may not be the first company to go public after Coinbase. Kraken CEO Jesse Powell stated in June that the exchange was considering a public listing for next year, stablecoin-focused crypto company Circle announced last month that it planned to go public in a $4.5 billion deal, and Bullish — an exchange backed by Block.one — has also thrown its hat into the ring with a possible listing on the New York Stock Exchange.

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