Media: Coinbase plans to go public in 2020

Share on facebook
Share on twitter
Share on linkedin
Share on print
Share on email

One of the largest cryptocurrency exchanges Coinbase plans to run an IPO in 2020. It will be the first US-based cryptocurrency exchange to be traded publicly.

Coinbase began preparations for an initial public offering, Reuters reports citing sources familiar with the situation. Coinbase listing may take place as early as 2020. If Coinbase manages to obtain an IPO permission from the US Securities and Exchange Commission (SEC), then it will become the first US-based cryptocurrency exchange to be publicly traded.

In May, Coinbase began working with JPMorgan Bank. Then one of the bank’s top managers suggested in a conversation with The Block that the bank had an eye on possible income from a future IPO.

“There is little business in fees associated with processing wire and ACH payments, I would expect that there are other associated benefits to JPM from any associated banking services, additional collaboration with both of those firms, potential for winning any future IPO or another angle such as JPM coin being offered on either of those platforms,” the banker said at the time.

Coinbase’s market value is estimated at $8 billion. This is one of the first cryptocurrency unicorn companies.

This year, Coinbase co-founder Fred Ehrsam, in response to a question about the form of an IPO, replied that Coinbase is committed to following the cryptocurrency philosophy. “If we think the future is all assets exist on the blockchain, why should this be any different?”

The journalist’s question asked at the Consensus conference in New York was whether Coinbase will conduct an IPO in the form of a sale of tokens issued on the blockchain, or whether it will be ordinary shares offering as part of a listing on NASDAQ exchange.

Via: 2Coinfox.info

Leave a Replay