Coinbase cryptocurrency exchange application seen on iPhone screen.
Coinbase cryptocurrency exchange he said Trading will begin on Thursday, April 14, after it received regulatory approval from the Securities and Exchange Commission for its direct listing.
Company, ranked 10th on 2018 CNBC Disruptor 50 list, posted a brief blog post announcing SEC approval. While companies love it Roblox,, Spotify,, Slack i Palantir previously announced through direct quotations on the New York Stock Exchange, Coinbase will be Nasdaq’s first major direct listing.
The company said it plans to register nearly 115 million Class A ordinary shares to be traded under the COIN symbol. In a direct list, the issuing company waives the sale of new shares and instead allows existing shareholders to sell their shares to new investors.
The SEC’s green light represents a turning point for proponents of cryptocurrencies, which have accumulated into blockchain-related assets, such as bitcoin. Only recently have there been many traditional banks and institutional investors accepted cryptocurrency, which was previously considered too speculative and volatile.
With bitcoin growth in the last year by about 800% ecosystem of infrastructure companies and the trading platforms that are emerging around it, Coinbase has soared in value as a proxy for the wider crypto-economy.
Coinbase cited a potential drop in bitcoin prices as one of the risk factors in its prospectus. The company claims to have more than 43 million users who trade digital assets in more than 100 countries.
Last month, an updated submission found that Coinbase reached an implied private market estimate of $ 68 billion, based on an average share price of $ 343.58. Although the value in the private market is less indicative of the value of the company’s stock, Nasdaq will use that data to set a reference price before listing Coinbase directly.