TechFlow news, June 24 — According to Techinasia, on June 23, cryptocurrency financial services firm ProCap announced plans to go public via a merger with special purpose acquisition company Columbus Circle Capital Corp. I. The merged entity will be renamed ProCap Financial, with Pompliano serving as chairman, and plans to establish a bitcoin reserve of up to $1 billion. The company has not yet disclosed specific revenue strategies.
According to Constantine Karides, lead legal counsel for the transaction, ProCap Financial intends to list on Nasdaq, pending approval from the U.S. Securities and Exchange Commission.
Earlier reports indicated that the company has raised over $750 million in funding from investors including FalconX, Blockchain.com, and Off The Chain Capital.
