The US Securities and Exchange Commission (SEC) has approved Coinbase's application for public trading in securities. The decision entered into force on April 1
The platform also announced the publication of preliminary financial results for the first quarter of 2021, which will take place on April 6.
Coinbase will be the first crypto exchange in the world to be publicly traded on the stock market. Back in January of this year, the site launched the sale of shares for a limited circle of investors on the Nasdaq Private Markets platform in order to determine the price for the placement. In February, the value of Coinbase shares reached $ 373, which raised the company's valuation to $ 100 billion.However, last month, the NASDAQ stock exchange valued the company at $ 77 billion.
Coinbase will go public bypassing the IPO procedure through a direct listing. Unlike the initial public offering, the company does not issue new securities in this case. Existing shares of investors and employees are being traded on the exchange.