Abu Dhabi crypto firm Hayvn in talks for series B funding, eyes IPO | Reuters
Abu Dhabi-based crypto trading firm Hayvn is in talks with institutional investors to anchor a series B funding round that would value it at $400 million as it eyes an eventual initial public offering (IPO), its chief executive officer said.
Hayvn, which raised $5 million in series A funding in 2021, hopes to raise $30 million in the series B round which it expects to close in about three months, CEO Christopher Flinos told Reuters.
Crypto's move into the mainstream has gained pace, with large banks and companies starting to embrace it. Industry backers hope this will reduce digital coin price volatility.
Series A funding usually secures cash for early development plans, followed by a Series B round to fund further expansion.
Hayvn, which offers trading, custody, asset management and payments services, has about $75 million in assets under management and expects that to grow to $500 million by mid-year, Flinos said.
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