Cryptocurrency exchange Coinbase is preparing for a public offering of shares. The company has filed preliminary documents with the U.S. Securities and Exchange Commission (SEC).
According to an article on
the Coinbase blog, the company is preparing to enter the stock market and has filed relevant preliminary documents with the SEC. According to the application:
“Form S-1 will become legally binding after the SEC completes the review process, depending on market and other conditions.”
Coinbase said the documents filed with the SEC are confidential. This is the first official step on the way to a public offering of shares. The document, which is likely to include a target amount of accommodation that is not available publicly.
It is not yet clear whether Coinbase is going to enter the stock exchange through an IPO or a direct listing. As reported by the agency Reuters
This summer, Coinbase was exploring a possible listing on the stock exchange. Unnamed sources said at the time that Coinbase was considering a direct listing rather than an initial public offering. The S-1 form is required for both an IPO and a direct listing on a stock exchange.
The documents submitted by Coinbase are confidential – their contents will be published only three weeks before the possible listing, when the firm will try to attract potential investors.
More and more cryptocurrency-related companies are seeking to get listed on stock exchanges. In June, Bithumb filed for an IPO in South Korea, and in April, mining company Ebang announced a
planned IPO in the United States.