Known as one of the major cryptocurrency exchanges, Coinbase is likely to be listed on the U.S. Stock Market as the crypto exchange has begun making preparations for it as per the article report shared by Reuters just a while ago today on the 9th of July. According to the report, this might happen as early as this year or at the beginning of the next year.
Report: Coinbase to go public very soon
The latest report shared by Reuters, the U.S. cryptocurrency exchange is setting up some arrangements for its listing on the stock market. Citing various resources familiar with this matter, the Reuters’ report says that the major crypto exchange is gearing up to go public in the current year as soon as it is possible. If it happens, the Coinbase trading platform will be able to ensure its public debut on the U.S. Stock market.
But in order to get it listed on the United States Stock market, the $8 billion valued crypto exchange requires approval from the U.S. Securities and Exchange Commission (SEC). If SEC grants approval to Coinbase, it might be able to ensure its listing by the end of this year.
As per the report, if Coinbase succeeds to mark its listing on the U.S. Stock market, it will be the first major crypto exchange platform to go public as no other major exchange has so far got listed on the stock market. And it will be a remarkable milestone for this US-based cryptocurrency exchange.
Coinbase expected to go with direct listing instead of IPO
Sources in the report have said that the crypto exchange is more likely to go with direct listing instead of going with an Initial Public Offering (IPO) as it is an old traditional way. Basically, in an IPO listing, the company has to sell new shares but in the direct listing, it does not sell.
The preparations for listing are confidential but plans might be subjected to change further as it is not confirmed whether the exchange plans to go public this year or the next year.