Hayvn aims for 500 million under management by midyear
Firm seeks 150 million in IPO valuing it at 1.5 billion
Gulf funds scoped for asset management, equity investments
Series B funding aims to raise 30 million

DUBAI, Feb 9 Reuters Abu Dhabibased crypto trading firm Hayvn is in talks with institutional investors to anchor a series B funding round that would value it at 400 million as it eyes an eventual initial public offering IPO, its chief executive officer said.

Hayvn, which raised 5 million in series A funding in 2021, hopes to raise 30 million in the series B round which it expects to close in about three months, CEO Christopher Flinos told Reuters.

Crypto39;s move into the mainstream has gained pace, with large banks and companies starting to embrace it. Industry backers hope this will reduce digital coin price volatility.

Series A funding usually secures cash for early development plans, followed by a Series B round to fund further expansion.

Hayvn, which offers trading, custody, asset management and payments services, has about 75 million in assets under management and expects that to grow to 500 million by midyear, Flinos said.

The firm aims to pursue a 150 million IPO when Hayvn reaches a valuation of 1.5 billion, which Flinos expects will be hit in 12 to 16 months.

Hayvn is eyeing acquisitions such as private banks, asset managers and insurers, funded by the IPO proceeds, he said.

Several exchanges are being considered, including New York, London,…