Crypto exchange Gemini has appointed a new chief financial officer as it positions itself for a potential initial public offering.
The company’s latest hire, Dan Chen, who previously served as vice president of capital markets at Affirm, announced the move in a social media post.
“Crypto is the most dynamic sector in finance and Gemini is at the forefront of this revolution — making it simple and secure to engage on the digital asset frontier,” Chen wrote in the post.
Chen will work alongside Gemini co-founders Cameron and Tyler Winklevoss to help scale the business. The timing of the hire aligns with Gemini’s reported ambitions for an IPO, which would provide greater access to capital while subjecting the company to the transparency requirements of public markets.
Read more: Billionaire Winklevoss Twins-Backed Gemini Confidentially Filed for a U.S IPO: Bloomberg
If Gemini moves forward with the public listing process, it will be part of a small but growing number of crypto-native companies considering an IPO in the U.S. stock exchanges, including Kraken, Circle, Bullish (parent company of CoinDesk) and Blockchain.com
Gemini has not formally confirmed its IPO plans, but the appointment of a CFO with extensive experience in financial strategy suggests that preparations may be underway.
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