Berkeley, California-based Chain and Block are launching a public offering of their blockchain startup Chain and Blockchain, the companies announced today.
Chain and Blockchain is aiming to raise $3.6 billion, according to a release from the companies.
It’s a multi-year investment, according the release, and will include a share purchase program and a private placement program.
Chain and blockchain technology, which is a digital ledger and blockchain platform, will be integrated into the new company’s product offering, which will include new products, including its digital asset platform.
The company says it will invest $1 billion to scale its operations.
The company is a blockchain company founded in late 2014 and has raised $10 million in Series B funding from Sequoia Capital, Andreessen Horowitz, Union Square Ventures and more.
Chain said in a statement that it is a “digital asset company that uses blockchain technology to create digital assets and businesses that make it easy for consumers, enterprises and governments to transact securely and securely with each other.”
Chain and Block is based in the Berkeley, Calif., city of Berkeley.
It has a team of more than 20 engineers, including senior engineers at Chain’s Berkeley office and a team at its San Francisco office, the company said.
Chain plans to release the company’s IPO prospectus on March 1.
Chain said in its announcement that it will be launching the offering to “engage institutional investors and institutional clients.”