US Crypto Exchange Coinbase To Go Public Via Direct Listing

MOSCOW (UrduPoint News / Sputnik - 29th January, 2021) Coinbase, a major US cryptocurrency exchange platform, announced Thursday that it would go public via a direct listing instead of an initial public offering.

"Coinbase Global, Inc. today announced its intent to become a publicly-traded company pursuant to a proposed direct listing of its Class A common stock," the exchange said in a blog post.

This follows the tech company's decision to confidentially submit a draft registration statement on Form S-1 with the US Securities and Exchange Commission. The review process is ongoing.

The digital platform was set up in 2012 to make it easier to buy and sell digital coins, such as Bitcoin and Ethereum, in a bid to open up the global financial system. It claims to have 43 million users.