According to several people close to the case, the Coinbase plans to reach stock markets by the end of the year or early next year.
Coinbase is said to have started planning a direct quotation and to be waiting for the green light from the American regulator, the Security and Exchange Commission (SEC), Reuters reports, citing three anonymous sources.
The company, valued at $8 billion and which has raised more than $500 million, has already begun discussions with several investment banks and law firms.
The San Francisco-based crypto-exchange, coinbase, would consider going stock via a direct listing and not via an IPO. Unlike a traditional IPO, this type of IPO does not allow the issuance of new shares or the raising of funds. Only the shares of the company currently held by investors are exchangeable.
Backed by venture capital firms Polychain Capital and Andreessen Horowitz, the firm now boasts more than 35 million customers and offers various crypto-services, including the possibility of trading the market’s most important digital assets, including Bitcoin and Ethereum.
Coindesk also reports that Coinbase has scheduled its very first Investor Day for August 14. However, it is not yet clear whether the event is related to the rumour.
“This will not be a traditional investor day, but rather an opportunity to hear our perspective on the cryptoeconomy and learn about Coinbase’s role in the ecosystem.”