Coinbase plans direct listing in 2 weeks as largest crypto exchange in the US looks to go public, report says

coinbase office headquarters san francisco
The Coinbase headquarters in San Francisco.

Coinbase Global, the largest cryptocurrency exchange in the US, is looking to make its Nasdaq debut on April 14, having pushed it back from its initial March target date, Bloomberg first reported.

The San Francisco-based company will disclose details, including its reference price, the day before it goes public, sources told Bloomberg. This timing could still change, however, sources also said.

The planned debut is still being reviewed by the US Securities and Exchange Commission. If approved by the agency, the listing would mark a significant milestone for the digital currency ecosystem, which has struggled to earn the confidence of more conservative regulators and investors.

Coinbase revealed a higher valuation of $68 billion in March due in large part to recent private transactions ahead of its direct listing, Reuters first reported.

The increased figure signifies how much the company’s value has surged alongside the huge rally in the price of bitcoin, which hit record highs in March.

Coinbase, founded in 2012, said it planned to go public via direct listing since it does not need to raise new capital for now.

The company, which has more than 43 million users in over 100 countries, would also represent the first major direct listing on the Nasdaq.

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