Phantom Wallet CEO says no plans for own chain or IPO

The CEO of Phantom Wallet has confirmed that the company has no plans to launch a native blockchain or go public through an IPO.

Phantom Wallet CEO Brandon Millman recently made an appearance on the Empire podcast, where he discussed details about the company’s past, present, and future. The CEO stated during the episode that the wallet provider has no plans to launch its own blockchain or pursue an initial public offering (IPO). 

Instead, Phantom will continue doubling down on Solana, reinforcing its commitment to building within existing ecosystems rather than starting new ones.

“Launching your own chain is kind of antithetical to the open permissionless nature of crypto,” Millman said, adding that “We are always going to try to just reinvest into Solana and other ecosystems that are already built on it.”

While he acknowledged that the platform has IPO potential due to its growing user base and product suite, the CEO emphasized the company’s decision to remain private for now, supported by venture firms including a16z, Paradigm, and Sequoia.

By avoiding the public markets, the company plans to focus on product development and long-term vision. 

Phantom focuses on improving user experience 

Alongside Millman, Strategy Vice President Donnie Dinch, also a guest on the episode, contributed to the discussion, highlighting Phantom’s broader mission to build the next generation of consumer finance platform using crypto as the foundation. 

Rather than diverting attention toward building a new blockchain or public listing, the team is channeling efforts into improving user experience and onboarding the next wave of crypto users. The podcast episode also highlighted the firm’s recent initiatives such as the integration of perps trading via Hyperliquid, the launch of Phantom Cash, a USD-pegged stablecoin, and Phantom Connect. 

Another key development mentioned is the Phantom Terminal, a trading experience tool expected to launch this week. According to the chief executive officer of the web3 wallet, the tool is aimed at giving institutional and high-volume traders a better user experience.  

Phantom wallet has seen huge adoption since its launch. Today, it boasts over 15 million monthly active users and has been valued at around $3 billion in previous funding rounds.