The largest US crypto exchange, Coinbase Global, has filed to go public via a direct listing, which is considered to be a highly important moment for the industry.
The company doesn’t plan to raise any proceeds in the transaction, according to the filing with the US SEC.
Coinbase’s offering may be the first important direct listing that takes place on the Nasdaq. All of the previous ones, such as Spotify Technology SA, Asana and Palantir Technologies, or Slack Technologies, were listed on the New York Stock Exchange.
Roblox, the online video game company, has made a similar announcement regarding a direct listing after it had initially delayed its IPO and raised capital privately.
Coinbase was founded in 2012 and has now raised over $500 million from backers such as Greylock Partners, Y Combinator, and Andreesen Horowitz.