San Francisco Coinbase Office.
Photographer: Michael Short / Bloomberg
Photographer: Michael Short / Bloomberg
Coinbase Global Inc., the largest cryptocurrency exchange in the United States, intends to go public through a direct listing, the company said in a statement. Thursday’s statement.
The San Francisco company has previously submitted its registration documents to the US Securities and Exchange Commission, although it did not specify that it would pursue a direct listing instead of a standard initial public offering.
Coinbase will join several consumer-oriented technology companies, including Spotify Technology SA which became public through direct listings. Online video game company Roblox Corp. it also announced that it was planning a direct listing, after later delaying its IPO and raising private capital.
Read more: Coinbase Exchange Cryptocurrency Says Archived To Be Public (2)
The SEC approved a proposal by the New York Stock Exchange to allow companies to raise primary capital while listing directly, which had previously been a significant disadvantage in bypassing an IPO.