Crypto market maker Apifiny is planning to go public by the end of 2021, the company announced Tuesday.
Following in Coinbase and INX’s footsteps, San Francisco-based Apifiny plans use the funds raised through the listing to finance an aggressive expansion this year,
“We think there’s more vertical ways to improve these products,” said Haohan Xu, CEO of Apifiny. “Like having better algorithms, faster connections, having more robust servers that can process more transactions per second.”
The firm’s main two product lines include Apifiny Connect, which lets institutional traders access cryptocurrency exchanges around the globe, and ExOne Plus, a market-making platform for smaller exchanges that need liquidity. Apifiny says it uses its connections to exchanges around the globe to enable better price discovery, which it uses to hedge trader’s positions.
In the past few months, the firm has added Crypto.com, Huobi Global, OKEx, Kucoin, BitMax, HBTC and Blockchain.com to its list of exchange partners.
See also: Coinbase to Become Publicly Traded, Announces Proposed Direct Listing of Shares