Yesterday, rumors began circulating regarding crypto exchange Coinbase going public with an $8 billion stock market listing.
While there’s no denying the move would be positive for the space, it would ultimately be an ironic situation for the company and industry.Rumors Suggest Coinbase Is Preparing Stock Market Debut and IPO
According to sources close to the matter speaking under strict confidentiality, Coinbase may be preparing an IPO.
Related Reading | Report: Crypto Exchange Coinbase is Gearing Up for an $8B+ Stock Market Debut
The cryptocurrency exchange is one of the most successful brands in the space. It became synonymous with crypto during the bubble of 2017 after topping Apple App Store charts. Many competitors have since stolen market share, but it remains among the most popular fiat gateways even today.Crypto Exchange Launching Via Traditional Methods Is Ironic Twist For Industry
Coinbase going public with an IPO could bring significant interest to the crypto market. Institutional and mainstream investors may see it as a stamp of approval for the entire asset class.
But the company focusing on emerging technologies launching through traditional means is ironic for the brand and industry.Coinbase is in a unique position to lead the charge toward a future where shares are distributed over the blockchain as security tokens. The platform even offers cryptocurrency assets designed as such a launchpad, yet may be eying traditional methods instead.
Coinbase likely wants to go the most comfortable route for big-money investors. However, does this also send a message that crypto assets aren’t ready to support such initiatives?Related Reading | Could Crypto Exchange Coinbase Be Pumping Tezos To The Moon?
offer an avenue for Coinbase to tokenize its shares and make them available via the blockchain. Tezos, a popular altcoin listed on the exchange is designed for this use case.
And while the IPO rumor isn’t confirmed and its too early to tell if Coinbase will choose an STO over traditional means, the ball is in the exchange’s court to lead the charge toward the future of finance. If it doesn’t and chooses traditional methods to launch its IPO instead, what does that really say for the state of the crypto industry?
