The cryptocurrency financial services company ProCap plans to go public on Nasdaq and aims to establish a $1 billion Bitcoin reserve

ChainCatcher news, according to Techinasia, cryptocurrency financial services company ProCap announced on June 23 that it plans to go public through a merger with special purpose acquisition company Columbus Circle Capital Corp. I. The merged company will be renamed ProCap Financial, with Pompliano serving as chairman, and plans to establish a Bitcoin reserve of up to $1 billion. Currently, the company has not disclosed specific revenue strategies.

According to the chief legal advisor for the transaction, Constantine Karides, ProCap Financial plans to list on NASDAQ but still needs approval from the U.S. Securities and Exchange Commission.

Previously, the company had received over $750 million in funding support from investors such as FalconX, Blockchain.com, and Off The Chain Capital.