Here's why Coinbase's stock market debut will be so positive for crypto

gepubliceerd op by Cryptoslate | gepubliceerd op

Coinbase has long been deemed the flagship company of the crypto and blockchain industry.

Reuters: $8 billion crypto upstart Coinbase is readying a stock market listing.

Per the outlet, three "People familiar with the matter" have confirmed that Coinbase is looking to undergo a stock market listing that may take place as early as 2020.

The anonymous sources said Coinbase has not yet registered this plan with the U.S. Securities and Exchange Commission, which is necessary for it to trade on U.S. markets.

Coinbase has purportedly been in talks with investment banks and law firms to establish a plan.

Crypto firms also looking to list shares on notable stock exchanges include Ripple Labs and Bitmain.

Analysts say this should this news be true, Coinbase's intent to go public is bullish for the Bitcoin and crypto market.

This was echoed by pseudonymous Ethereum investor "DCInvestor," who said that the Coinbase listing will only "Bring attention to the space and will engage many who want crypto exposure."

1) Brings attention to the space, and will engage many who want crypto exposure, but don't want to own crypto.

He added that Coinbase attempting to go public now indicates that the crypto giant is seeing positive internal metrics, be that user adoption, transaction volumes, or other growth metrics.

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