Coinspeaker
Blockchain Firm Unicoin Plans to Go Public in US Market
Unicoin, a public reporting company backed by real-world assets (RWAs) such as real estate and equity in high-growth companies, is set to become a publicly traded company in the United States.
According to a recent announcement, the company which launched its primary offer for trading in March 2024 is preparing to expand its business offerings by going public at a later date this year.
Path to Public Listing
Unicoin initially revealed its intention to go public in February 2024 when it filed with the US Securities and Exchange Commission (SEC) for approval of its planned migration.
In a recent letter to shareholders from CEO Alex Konanykhin, Unicoin said it is exploring various avenues to achieve its public listing goals, including direct listing, reverse merger, or engaging in traditional IPO.
Konanykhin said in the letter that the listing could happen through any of the listed avenues. However, he is leaning towards reverse merger which he described as the fastest way to go public.
“The market situation has indeed become favorable for crypto companies listed on major exchanges. A reverse merger. That’s the fastest way to go public and we are reviewing some NYSE and NASDAQ listed companies identified as suitable for such a merger,” he said.
Preparing for Public Debut
As part of its preparation to go public, Konanykhin told in an interview on Thursday that Unicoin is conducting a large-scale advertising campaign to increase brand awareness and attract potential investors.
“We are conducting an extensive advertising campaign ahead of our public listing to elevate the visibility and perceived value of Unicoin, promoting its unique advantages,” Konanykhin emphasized.
Upon listing, Unicoin plans to introduce its own native crypto called Unicorns for investors. These security tokens, which had been in the works 2022, as shown on the SEC’s filing will be backed by Unicoin’s real estate and equity portfolio.
However, Konanykhin clarified that the value of these digital assets will not be directly tied to the underlying assets.
“Unicoins do not represent ownership in any specific asset. Our portfolio, including real estate holdings, serves as collateral to ensure Unicoin’s potential to establish itself as a leading cryptocurrency brand and promote its unique advantages,” the firm explained
Unicorn’s Crypto Token Already Available
For now, investors can purchase Unicoins through the “swaps for real estate or other kinds of RWAs, without using any cash” features introduced by the company.
Additionally, the tokens can be acquired via the “Buy Now, Pay Later deals”, which give investors five years to pay for the purchase.
