Linqto, a pioneering investment platform, has formalized an agreement to transition into a publicly traded entity via a fusion with Blockchain Coinvestors Acquisition (BCSA.O), a special purpose acquisition company (SPAC). This strategic maneuver, appraised at a $700 million valuation, was disclosed by both enterprises on Tuesday.

Headquartered in San Jose, California, Linqto boasts a global user base exceeding 750,000 individuals across 110 nations. The platform empowers its users to allocate funds into unicorn enterprises—startups with valuations surpassing $1 billion—and other non-public entities.

Linqto’s marketplace has granted its investors avenues to partake in private corporations such as Epic Games, the visionary behind Fortnite, and the digital currency firm Ripple, among others.

This move situates Linqto amongst a cadre of firms opting for public listing via blank-check corporations—a practice that has waned in popularity amid heightened scrutiny by the U.S. Securities and Exchange Commission.

Blank-check entities, synonymous with SPACs, leverage capital amassed from an initial public offering to amalgamate with a private corporation.

Post-transaction, anticipated to culminate in the latter half of 2024, the consolidated entity will persist under the Linqto nomenclature.

Earlier this February, Webull, a trading platform, similarly consented to market its shares on Nasdaq by merging with a blank-check corporation, a transaction evaluated at $7.3 billion.