Cryptocurrency exchange Coinbase announced its plan to become a publicly-traded company via a proposed direct listing of its Class A common stock, according to a post on its corporate blog.

As one of the largest and longest-standing cryptocurrency exchanges, a public listing for Coinbase would mark a significant step toward mainstream financial inclusion for the Bitcoin industry and its related businesses.

In December 2020, Coinbase announced that it had submitted a draft registration statement via Form S-1 with the U.S. Securities And Exchange Commission (SEC), a filing used by companies to register their securities before going public. Today’s announcement further clarified that Coinbase plans to list its stock directly, as opposed to conducting an initial public offering (IPO). When companies conduct IPOs, they create new shares that are underwritten and sold to the public. A direct listing sells only existing, outstanding shares without involving underwriters.

The post Coinbase Announces Intention To Go Public With Direct Listing appeared first on Bitcoin Magazine.