Synovos Online Banking is launching an initial public offering, or IPO, on the New York Stock Exchange (NYSE) this morning, following a pre-IPO filing that listed the company as a “futures” company.
Synovis is a provider of “banking services” to the internet, with its service offering includes the banking of credit cards and money orders.
Synavus, which is owned by BT Group, the parent company of BT and Telefonica, is also a financial technology company.
The IPO will be based in New York, the company said in a statement.
The company’s initial public offer price is currently set at $36.20 per share, with a range of $30 to $70.
Synova’s shares are currently trading on the Nasdaq Stock Market at $32.25.
Synos founder and CEO, Jérôme Segura, told investors during the IPO’s pre-market filing that Synovas “platform will be the platform for the world’s largest banks to scale to billions of consumers.”
The company said it will have a presence in more than 50 countries, and has a strong presence in the US, Canada, Europe, Latin America, Asia Pacific and Africa.
It also announced plans to add more than 1,000 employees and a $5 billion investment in the UK.
“As a company we are investing to help accelerate the adoption of blockchain technology and blockchain products across our global financial ecosystem, including Synovs own products and services, as well as partnerships with the largest banks,” Segura said in the filing.
“We are also committed to building a community that is aligned to our mission, and that is focused on bringing new innovations to our global banking system.”
Synovias founders are currently based in Switzerland.
A statement from Synovosis stated that its plan is to focus on “building an innovative and secure digital payment system for consumers and businesses.”
It added that the company is also working on a new “online banking platform for banks and financial institutions.”
“We have been working with major banks, payment providers and payment networks to ensure that our platform works with their existing services,” the company added.
“Our goal is to deliver the most seamless and secure experience possible.”
Synova announced earlier this month that it had acquired UBS, Credit Suisse, and Citigroup, among others, in a deal valued at about $3.7 billion.
The acquisition came after Synovia raised $2.5 billion in funding in December.
The new funding round included a $2 billion seed round, the financing of which Synovian said was “underwritten by the US Government.”
The $3 billion deal is part of a larger $11 billion investment Synovys $18 billion initial public sale, which was approved by the SEC in July.
Synovius has also recently announced that it will launch a $10 billion venture capital fund in 2018 to invest in a range and types of blockchain projects.