Coinbase office in San Francisco.
Photographer: Michael Short / Bloomberg
Photographer: Michael Short / Bloomberg
Coinbase Global Inc., the largest U.S. cryptocurrency exchange, plans to go public through direct listing, the company said in a reported Thursday.
The San Francisco-based company had previously filed its registration documents with the U.S. Securities and Exchange Commission, though they had not specified that they would follow listing just instead of the usual original public offering.
Coinbase joins a handful of tech companies that typically face consumers Spotify Technology USA went public through direct listings. The online video game company Roblox Corp. also announced that they are planning a direct listing, after delaying their IPO and raising private capital.
Read more: Coinbase Exchange cryptocurrency says it filled publicly (2)
The SEC has approved a New York Stock Exchange proposal to allow companies to raise capital while listing directly, which was previously a major draw on IPO avoidance.