Cryptocurrency exchange Coinbase plans to enter the US stock market in late 2020 or early 2021, if it receives the permission of the regulator.
Having received approval from the us securities and exchange Commission (SEC), Coinbase will become the first us cryptocurrency exchange to enter the stock market. However, Coinbase has not yet submitted an application to the Agency. In preparation for the placement of its shares, the exchange is in talks with investment banks and law firms, but the management of Coinbase does not disclose details.
According to Reuters, in order to enter the stock market, the exchange is considering a direct placement, rather than the traditional initial public offering (IPO) model. This means that the owners of shares can immediately sell them – the shares will not be temporarily blocked, as happens with an IPO.
In 2018, Coinbase announced the successful closing of a funding round in which the exchange raised $300 million and the total market value of Coinbase exceeded $8 billion. Last summer, it became known that the custodial service Coinbase Custody manages client assets worth $1.3 billion and expects to increase the volume of stored funds to $2 billion.
Recall that in 2018, Coinbase launched the Coinbase Commerce service, which allows online stores to accept payments in BTC, BCH, ETH and LTC. In addition, this month, the exchange introduced the Rosetta open standard for fast placement of cryptocurrencies on the exchange and simplified integration of various blockchains.