US' biggest crypto bourse Coinbase files IPO papers for Nasdaq listing

Coinbase Global, the biggest US cryptocurrency exchange, filed to go public via a direct listing, in what’s anticipated to be a break-through moment for the industry.

 

The company won’t raise any proceeds in the transaction, Coinbase said in a filing with the US Securities and Exchange Commission on Thursday.

 

Coinbase’s offering could be the first major direct listing to take place on the Nasdaq. All previous ones, including Spotify Technology SA, Slack Technologies,, Asana and Palantir Technologies, were listed on the New York Stock Exchange.

 

Online video game company Roblox has also announced that it’s planning a direct listing, after earlier delaying its IPO and raising capital privately.

 

Started in 2012, Coinbase has raised more than $500 million from backers that include Andreessen Horowitz, Y Combinator and Greylock Partners.