After a merger with Abri SPAC I, a special purpose acquisition company, Apifiny Group Inc said Thursday that it is going public.
Once the $530 million deal concludes in the third quarter of 2022, Apifiny is planned to be listed on NASDAQ. The San Francisco-based company, which was founded in 2018, brings together several parts of the digital asset trading markets, such as clearing and settlement, on a single platform. Crypto heavyweights such as Huobi Global, OKEx, OKCoin, and Blockchain.com are among the firm’s partners.
According to a press statement, Apifiny plans to use the combination to expand its blockchain technology tool offerings and regulatory transparency.
“We are excited to be partnering with Abri, a company with extensive capital markets experience and operational and management experience in both public and private enterprises.” In a statement, Apifiny founder and CEO Haohan Xu said, “Together, we aspire to create one unified worldwide market for digital assets.”
Apifiny is one of the most recent cryptocurrency startups to go public via a SPAC offering. SPAC deals may face problems in 2022, according to The Block, despite their increased utility and activity in the previous year.
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