GIFA, a cryptocurrency exchange based in the TRNC, has gone public.
According to CEO Yusuf KISA, GIFA Exchange is more than a simple exchange platform therefore it should be carried out to the public and serve thousands of people on their investment’s journey.
“In light of the direct listing’s performance, an IPO is looking a little more enticing,” Powell told Fortune. “With the benefit of witnessing how Coinbase’s direct public offering went, I’d say we’re looking at it more seriously today.”
Is GIFA Exchange too big to tackle by himself?
It already has over 46 thousand investors, thanks to a record-breaking rate of new user sign-ups this year; new user growth each month since early september 2020.
GIFA estimates revenue above $119 million in 2021, a significant increase for the company with a maximum supply of GIFA token resting at 20,100,000,000 units.
Is it possible for GIFA Exchange to compete with Coinbase and Binance?
In terms of revenue, users, and product offerings, Coinbase is substantially larger than GIFA Exchange. In fact, some disruptive technology investors, including Ark Invest founder Cathie Wood, were among those who bought shares in the IPO.
The corporation made $1.80 billion in revenue in the March quarter alone, with earnings per share of $3.05 per share. Coinbase had over 56 million verified users and 6.1 million retail
MTUs at the end of the first quarter, with a quarterly trading volume of $335 billion. Furthermore, with $223 billion in total assets housed on the platform, the crypto exchange appears to be far larger than GIFA Exchange. In 2021, the company expects to generate more than $6 billion in revenue.
Binance also appears to be significantly larger than GIFA Exchange. Based on the previous 24 hours’ trading volume, it is the largest cryptocurrency exchange. It has the potential to make over a billion dollars this year, with a trading volume of $2.46 trillion in May, up 49% from the previous month. Furthermore, spot transaction volume reached $1.5 trillion, compared to a 39 percent average growth rate for the 15 top crypto exchanges.