Chime, America’s largest digital bank, is preparing to go public with a significantly lower valuation than it once commanded. The fintech firm, known for its no-fee checking accounts and debit cards, is targeting an IPO valuation of around $11 billion—a stark contrast to the $25 billion it secured during a private funding round in August 2021, when fintech was riding high on investor enthusiasm.

Despite the dip in valuation and a cloud of economic uncertainty hanging over global markets, Chime isn’t backing down. The 13-year-old company has seen impressive growth, expanding its active customer base to 8.6 million. This user-focused strategy, offering accessible and fee-free banking services, has helped it solidify a leading position in the digital banking space.

But Chime’s IPO comes at a time when the broader economic outlook is turning cautious. In its latest forecast, the Organization for Economic Cooperation and Development (OECD) issued a stark warning: global economic growth is set to slow. The OECD, which includes 38 of the world’s major economies, cited escalating uncertainty stemming from former President Donald Trump’s tariff policies as a key risk factor.

According to the OECD’s projections, global growth will slide from 3.3% in 2024 to just 2.9% in 2025 and 2026. The U.S. economy, in particular, is expected to take a heavy hit, potentially affecting both consumer confidence and investment sentiment—factors critical to a successful IPO.

As Chime heads toward the public market, its journey will serve as a bellwether for the broader fintech sector—testing whether strong customer growth can offset shifting economic tides and investor caution in a more sober market landscape.