Coinbase Reportedly Preparing for Stock Market Listing Later in 2020
Coinbase, Inc. is reportedly preparing for a U.S. stock market listing that could come this year, according to Reuters reporting.
According to Reuters sources, preparations for a listing are underway but still need the green light from the Securities and Exchange Commission. If successful, this would mark the first time that a cryptocurrency exchange would be listed on traditional markets. Some mining companies have conducted or are preparing for initial public offerings, with Canaan doing so late last year.
It is yet unclear if Coinbase will opt for an initial public offering to accompany public trading. While raising additional capital is often associated with listing, its existing shares could simply be made available for trading with no additional funding.
Coinbase was valued at more than $8 billion in its latest private round. Earlier today, Cointelegraph reported that a new legal counsel lead was brought in the company to manage relations with financial regulators, possibly in preparation for the IPO.
The story is still developing.