A crypto exchange platform backed by the billionaire Winklevoss twins has submitted a confidential filing for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC).

Gemini, a crypto exchange run by billionaire twins Tyler and Cameron Winklevoss, on Friday disclosed it had confidentially filed for a U.S. initial public offering, as digital asset firms seize on renewed market momentum.

The surge in cryptocurrency IPOs signals a turning point for the industry, reflecting growing confidence among digital asset firms to attract mainstream investors.