Coinbase, one of the world’s leading cryptocurrency exchanges, announced that the company is expecting the trading of its Class A stock to start on 14 April. The digital exchange revealed plans to go public via a direct listing earlier this year.
According to an official announcement, the stock of Coinbase will begin trading on the Nasdaq Global Select Market under the ticker symbol COIN. Coinbase revealed its cryptocurrency investments in a filed prospectus ahead of the company’s public listing.
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“Coinbase today announced that its registration statement on Form S-1, as filed with the Securities and Exchange Commission (SEC), relating to a proposed public direct listing of its Class A common stock was declared effective by the SEC on April 1, 2021. Coinbase anticipates that its Class A common stock will begin trading on the Nasdaq Global Select Market under the ticker symbol ‘COIN’ on April 14, 2021. A copy of the prospectus related to the registration statement may be obtained by visiting EDGAR on the SEC website,” the exchange mentioned in the official announcement.
Founded in 2012 by Brian Armstrong, Coinbase is one of the largest digital exchanges in the world. According to a recent report by crypto research firm Messari, the custody service of the American cryptocurrency exchange accounted for nearly 11% of all digital assets in 2020.
Coinbase and the Cryptocurrency Market
The US-based digital exchange has a strong presence in the cryptocurrency market. The company mentioned that it is building the crypto economy to establish a transparent financial system enabled by cryptocurrency assets. Coinbase acquired cryptocurrency trade execution startup Routefire in January 2021.
“At Coinbase, we’re committed to bringing the potential of crypto to everyone. As part of this commitment, we will always strive to provide our customers with the highest levels of security, trust and transparency. During periods of extreme demand,” Armstrong mentioned in a blog post on 17 December 2020.