Cryptocurrency trading firm FalconX has confidentially filed for an initial public offering with the US Securities and Exchange Commission (SEC), hiring investment bankers to advance the listing process. This makes it another major crypto trading platform seeking to go public on US exchanges, following in the footsteps of Coinbase and Kraken.

According to CoinDesk, FalconX primarily serves institutional investors, providing crypto market-making, lending, and over-the-counter trading services. The company has experienced rapid business growth in recent years, benefiting from the massive influx of institutional capital into the cryptocurrency market.

FalconX’s IPO filing uses the confidential submission approach, which allows companies to complete the SEC’s initial review process before publicly disclosing financial data. This mechanism is available to emerging growth companies.

Analysts note that FalconX’s public listing will be a significant milestone in the institutionalization of the crypto industry. As more crypto enterprises pursue public listings, the boundary between traditional financial markets and the crypto ecosystem is accelerating its dissolution.

Morgan Stanley is piloting crypto trading on E*Trade at a 50-basis-point fee, expanding its digital asset push weeks after launching a bitcoin ETF, Bloomberg reported.

Crypto exchange Kraken has launched regulated spot margin trading in the US, the first product built on licenses acquired from Bitnomial. Perpetual contracts and options products are expected to follow.

Bloomberg reported that Morgan Stanley is piloting crypto trading on its E*Trade platform at just 50 basis points in fees. The move comes shortly after the firm launched a bitcoin ETF, signaling continued expansion into digital assets by traditional financial institutions.

This marks another significant expansion by Standard Chartered into the crypto space. As a global bank, Standard Chartered continues to increase its crypto infrastructure investments, showing growing confidence from traditional banks in the digital asset industry.

GSR is a well-known crypto market maker and trading firm providing liquidity services to institutional clients. This funding round will be used to expand its global operations and technology infrastructure.