French blockchain firm lists on Paris stock exchange

The company is the first blockchain-focused IPO in France.

Crypto Blockchain Industries, a France-based company focused on blockchain technology, is set to go public on the Paris stock market, local reports say.

The decision to admit the company’s ordinary shares was approved by the Euronext Paris SA on 21 October, with 2021, the report added.

According to Bourse Direct, CBI’s initial public offering (IPO) is a direct listing on the Paris Euronext Growth stock exchange and is the first such listing for any blockchain-centric firm in the country.

The Crypto Blockchain Industries stock will list at 2 euros per share.

Eyeing growth and adoption

CBI’s listing comes as the company looks to increase its presence across the market and attract both strategic and industrial partners. The firm plans to use the opportunity to net additional financing from investors in the blockchain space.

“Listing on Euronext Growth Paris will allow us to increase our visibility and to associate new strategic, industrial and financial partners as part of our investments around blockchain technology,” the company’s CEO and founder Frederic Chesnais said in a statement.

As the crypto space expands to bring into focus its potential, CBI has earmarked its growth trajectory around projects in video games, NFTs, and the virtual world of metaverse.

In April, US exchange Coinbase went public via a direct listing on Nasdaq. The IPO is among many lined up for 2021 and in the near future, with prospects there for leading firms including US-based exchange Kraken, London-based Blockchain.com, and eToro as well as Bakkt and BlockFi.

Meanwhile, investor sentiment in the crypto market is still extremely optimistic after Bitcoin (BTC) price touched a new all-time high above $67k. The altcoin market is also attracting huge investments, with inflows in funds and products underpinned by Ethereum, Solana, and Cardano rising.