The company may enter the stock market this year
The famous cryptocurrency exchange Coinbase is preparing to enter the US stock market. The agency said that a company could be listed on local stock exchanges in late 2020 or early 2021. Reuters With reference to sources familiar with the situation.
The listing will require the approval of the US Securities and Exchange Commission (SEC). If Coinbase gets permission from the regulator, it will be the first major US cryptocurrency exchange whose shares are publicly traded on the stock market.
Sources in Reuters emphasized that Coinbase could still change its plans. According to him, the company has not yet sent an application for placement in the SEC, but is in talks to appoint investment banks and law firms.
A Coinbase spokesman said the company “did not comment on rumors or speculation.” The SEC also declined to comment.
The SEC has previously stated that certain cryptocurrencies may be considered securities and subject to regulation, however, the Commission has not yet issued specific recommendations on most virtual assets. Many cryptocurrencies are trying to gain legitimacy among large investors and the general public, fearing their speculative nature and potential use for money laundering, Reuters notes.
One of the agency’s sources said that Coinbase, whose last round of financing in 2018 was estimated to be worth more than $ 8 billion, considering the possibility of offering shares through direct listing instead of the traditional initial public offering (IPO) Used to be. This means that the owners of the shares will be able to sell them immediately – the shares will not be temporarily blocked, as with an IPO.
Founded in 2012, Coinbase is one of the most well-known cryptocurrency platforms in the world, with over 35 million users. The exchange allows you to trade various virtual assets including bitcoin, Ethereum and XRP.
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Earlier, we had written that Coinbase was the first cryptocurrency company to receive the status of “Principal Member” or full member of the visa system. Membership of the Visa Principal Membership will allow the Exchange to provide more opportunities for Visa coinbase card debit card users: from the provision of additional services to the launch of cards in more markets.
Read: Is Bitcoin the most convertible: Coinbase study
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