Crypto exchange Bullish is targeting a valuation of up to $4.23 billion in its United States listing, the company said in a filing on Monday, launching its roadshow to capitalize on the momentum built by digital assets amid regulatory clarity.

Cryptocurrency exchange Bullish, backed by billionaire investor Peter Thiel, has officially entered the IPO arena with the filing of its F-1 registration with the U.S. Securities and Exchange Commission (SEC). The company plans to offer 20.3 million ordinary shares at a price range of $28 to $31, potentially raising up to $629 million.

Bullish, a digital-asset exchange operator and owner of media outlet CoinDesk, is looking to raise as much as $629.3 million in its US initial public offering.