Coinbase, one of the world’s most important digital currency exchanges, has long been rumored to be considering publishing directly.
According to the registration filed with the US Securities and Exchange Commission, the crypto exchange will list common stock directly in its class. The application for registration on Form S-1 will be effective once the US Securities and Exchange Commission has completed the review.
The San Francisco-based crypto exchange will be released later this year.
The direct listing format does not offer new shares, but existing shares are sold directly to the general public. Some of the benefits of this format for company stockholders may be that they can trade unblocked. Palantir recently used this model. It has the potential to create “instant millionaires”.
Coinbase said the announcement does not constitute an offer to sell or buy securities. This announcement is issued under Article 135 of the Securities Act.
The exchange first disclosed its intention to publish on 17 December by submitting a registered project to the SEC. According to a Business Insider news article, Coinbase will go public with Goldman Sachs. However, the company did not provide confirmation at the time.
Cryptocurrency exchanges are set to grow
According to Coinbase’s previous valuation, the company was worth $ 8 billion. But it was 2018. Cryptocurrency analysis firm Messari states that post-public offering exchanges can be worth $ 28 billion.
The company is one of the largest names for cryptocurrencies and has a reputation for working well with US regulators. Coinbase targets institutional customers in the United States. This means that regulatory compliance is a priority. That attitude is not very popular among crypto anarchists in this area, but economically this approach has been very successful.
Coinbase’s reach continues to expand following several notable acquisitions. The exchange recently acquired Bison Trails, a fully managed blockchain infrastructure provider, according to a Cointelegraph report. We also acquired the Routefire platform in January, significantly strengthening our business operations.
Coinbase has a trading volume of over $ 320 billion and has over 35 million users.
According to BBVA, everything seems to indicate that Coinbase IPO is completely successful. Mainly due to the Bitcoin boom. What’s more, the company has grown significantly in recent years.
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Coinbase reveals plans to publish directly
https://www.financebrokerage.com/coinbase-reveals-its-plans-to-go-directly-public/ Coinbase reveals plans to publish directly