The best crypto exchange Coinbase announces has received approval from the US Securities and Exchange Commission (SEC) to become known.
In a new blog post, Coinbase says the SEC has accepted their request via public listing, which will take place on April 14. Its ordinary A shares will be listed on the Nasdaq under the symbol COIN.
Coinbase initially submitted its Form S-1 in December 2020 and has reportedly been preparing since July last year.
According to the news agency Axios, Coinbase will enter the market with a valuation of $ 100 billion based on the company’s performance during a private market share sale before the public launch.
That value will place the company 147th on the list of best stocks by market capitalization, right below retailer Target. The company also started with a higher valuation than any other US technology company since Facebook in 2012.
Coinbase currently has 43 million verified users and has made nearly half a billion dollars worth since its launch in 2012.
The company manages $ 90 billion in assets on the platform and operates in more than 100 countries. Coinbase will be the first US-based crypto exchange to go public.
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Featured image: Shutterstock / Momentum Fotograh / Wang An Qi