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Crypto exchange Gemini is taking its first official step toward going public. Backed by Cameron and Tyler Winklevoss, the company has filed confidential paperwork with the U.S. Securities and Exchange Commission (SEC) for an initial public offering.
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Gemini, the crypto platform founded by the Winklevoss twins, has quietly submitted a draft registration to the SEC, setting up a potential stock market debut. The company confirmed the move in a press release but provided few details, saying that pricing and share volume will be determined later.
By choosing a confidential filing, Gemini can test investor interest and gauge market conditions without revealing sensitive financial details upfront. It also helps the firm avoid early market speculation or moves by competitors that could complicate the launch.
The company said it plans to go public after the SEC finishes its review, assuming market conditions are favorable.
In March, reports surfaced that Gemini had started working with Goldman Sachs and Citigroup on the IPO process. These firms are expected to act as underwriters, guiding the offering and handling the listing process for the exchange.
Gemini’s IPO plans come as interest in crypto-linked public listings grows again. Earlier this week, Circle, the company behind the USDC stablecoin, saw its stock jump on its first day of trading, underscoring renewed investor appetite for digital asset firms entering public markets.