Wall Street financial services firm Cantor is among investment banks that are pitching cryptocurrency trading platform FalconX for its potential IPO, according to two people with knowledge of the matter.

The company has held preliminary talks with possible advisors, but FalconX has not yet formally appointed bankers for its initial public offering, the people said, who spoke on condition of anonymity as the matter is private.

FalconX declined to comment. Cantor did not respond to a request for comment by publication time.

Investment banks often pitch companies for an IPO by presenting themselves as the best partner to take the business public, combining valuation analysis, market timing advice, and distribution strength.

The goal is to win…