The crypto exchange and custodian is in talks with potential advisers on a listing, the people said, asking not to be identified as the information isn’t public.

Deliberations are ongoing and no final decisions have been made on pursuing an IPO, the people said. A representative for Gemini didn’t immediately respond to emails and text messages seeking comment.

Companies in the crypto industry have accelerated plans to go public after the election of US President Donald Trump, who has become a prominent supporter of the sector. Cameron and Tyler Winklevoss, who came to prominence clashing with Facebook founder Mark Zuckerberg over ownership of the social network, both donated bitcoin in excess of the maximum allowed amount to Trump’s campaign, and were refunded the difference.

Bullish Global, a cryptoasset exchange operator backed by Peter Thiel — another sometime-Trump-supporting billionaire — is also considering an IPO as soon as this year, Bloomberg News reported.

Gemini has more than 500 employees, in offices in locations including New York, Seattle, Singapore, London, Dublin and Gurgaon, India, its website shows.

The firm agreed to pay US$5 million (RM22.2 million) to end a Commodity Futures Trading Commission lawsuit, claiming it misled the derivatives regulator in a bid to launch the first US-regulated bitcoin futures contract. Gemini settled without admitting or denying liability in the case, according to a filing disclosed in January.

Last year, Gemini agreed to return at least US$1.1 billion to customers through the Genesis Global Capital bankruptcy, as part of a separate settlement with New York regulators, related to the so-called Gemini Earn programme.

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