Coinbase Denies IPO Reports
The exchange however has stated that going public is not in the cards at the moment.
Coinbase To Go Public In the Future
Leading American trading platform Coinbase has responded to reports that it was planning to launch an IPO soon. The firm’s president Asiff Hirji has confirmed that the reports are unsubstantiated.
In an interview with Bloomberg, Hirji stated that Coinbase has plans of launching an IPO but not at the moment. He said that the firm has a number of current priorities but going public is not one of them. Last year, Hirji had hinted that the wallet provider might go public.
Reports about Coinbase's IPO were ignited last week by Ran NeuNer from CNBC. He said that Coinbase was about to confirm the IPO. The host alleged that he had information that the IPO will go live on October 26.
The claims by NeuNer have emerged to be untrue. According to Hirji, Coinbase executives were looking into ways of diversifying revenue sources through various avenues. At the start of this week, the firm had a market value of $8 billion, just days after another round of funding brought in $300 million.
Going into the future, Hirji stated that they have to find a way of meeting the laid down regulations on cryptos by issuing non-residents mores trading assets.
Coinbase seems to follow the footsteps of Bittrex exchange. The latter announced that it will be segmenting the US and international client base through a different platform based in Malta.