Weekend Wrap: Brazil’s Postal Service Considers Blockchain, Gemini & Kraken Eye IPOs, and More

In the latest developments from the world of cryptocurrency and blockchain, several key stories are making waves. From Brazil's postal service exploring blockchain to major crypto exchanges, Gemini and Kraken, eyeing Initial Public Offerings (IPOs), and El Salvador's Bitcoin-funded veterinary hospital reopening, the landscape continues to shift rapidly.

Gemini and Kraken: IPO Plans in the Works

Gemini, the well-known cryptocurrency exchange founded by billionaire twins Cameron and Tyler Winklevoss, is reportedly considering an IPO this year. According to a March 7 Bloomberg report, the exchange has involved major financial institutions, Goldman Sachs and Citigroup, in the process. While the decision is still under consideration, sources familiar with the matter revealed that no final details on the listing have been determined. Gemini has yet to comment on the report.

This news comes after the U.S. Securities and Exchange Commission (SEC) concluded its investigation into Gemini on February 26, allowing the exchange to move forward without facing regulatory action for now. The company’s potential IPO is reminiscent of Coinbase’s groundbreaking listing in 2021, when it became the first major U.S. crypto exchange to go public on the Nasdaq.

In a similar move, Kraken, another major player in the crypto exchange world, is reportedly planning its own IPO. A March 7 Bloomberg report also noted that Kraken is eyeing an IPO, possibly as soon as early 2026. While these plans are still in the works, the exchange has reportedly been consulting with its financial partners to determine the optimal timing and structure for a public listing. Kraken recently emerged victorious in a legal battle with the SEC, which had accused the exchange of operating illegally as a securities exchange without proper registration. However, the SEC dropped its lawsuit in March 2025, clearing the path for Kraken to pursue its IPO plans.

Crypto exchange-traded fund issuer Bitwise predicts that multiple “crypto unicorns” will go public in the coming years, with Kraken and Circle (the issuer of the USDC stablecoin) among the leading candidates for IPOs in 2025.

El Salvador's Bitcoin-Funded Veterinary Hospital Reopens

El Salvador has made headlines once again for its innovative use of Bitcoin. The country’s Bitcoin-friendly President Nayib Bukele recently made the decision to reopen a veterinary hospital funded through Bitcoin profits after initially closing it due to negative public feedback.

The hospital, called Chivo Pets, was launched in February 2022 and was initially funded by profits from Bitcoin investments. However, social media backlash regarding long waiting times, quality of service, and accusations that it was catering to the wealthy led Bukele to temporarily close the facility.

After receiving a flood of positive feedback, including heartfelt stories, photos, and videos from the public, President Bukele reversed his decision and announced that Chivo Pets would reopen with an increased budget to improve the quality of care. Bukele emphasized that while social media often presents a skewed view, the hospital had received far more positive support than negative. This move also aligns with El Salvador’s continued investment in Bitcoin, as the country recently purchased another six Bitcoin, bringing its total holdings to 6,111 BTC, valued at approximately $500 million.

Brazil’s Postal Service Explores Blockchain and AI Integration

Brazil’s state-owned postal service, Empresa Brasileira de Correios e Telégrafos (Correios), is taking significant steps toward modernizing its operations by exploring the use of blockchain technology and artificial intelligence (AI). A recent announcement revealed that the postal service is launching a pre-selection process to invite companies and specialists in blockchain and AI to propose solutions to help streamline business and operational processes.

Correios aims to digitally transform its infrastructure and enhance the quality of services offered. The project will focus on improving security, transparency, and governance. Interested firms have until April 11 to submit their proposals, which are expected to integrate advanced technologies into Correios’ internal supply chain management, enhancing both operational efficiency and customer satisfaction.

The Brazilian postal service’s move reflects the growing trend of traditional institutions embracing blockchain and AI to modernize their operations and stay competitive in the digital age.

Other Noteworthy News

In other developments, David Sacks, the White House’s crypto and AI czar, has rejected the idea of taxing cryptocurrency transactions to fund a strategic Bitcoin and crypto reserve. This proposal had been floated as a way to create a national reserve for digital assets, but Sacks' dismissal indicates that the Biden administration is not currently in favor of this approach.

Meanwhile, former FTX CEO Sam Bankman-Fried (SBF) has reportedly been placed in solitary confinement after conducting an unsanctioned interview with political commentator Tucker Carlson. This interview, which was not approved by prison authorities, led to disciplinary action against SBF, who is awaiting trial for his involvement in the collapse of the FTX exchange.

As these stories continue to unfold, they underscore the rapidly changing dynamics in the worlds of cryptocurrency, blockchain, and digital finance. With major exchanges contemplating IPOs, national governments exploring innovative uses of blockchain, and legal and regulatory challenges impacting the industry, the future of crypto is as exciting as ever.