Cryptocurrency brokerage Coinbase said on Thursday that it has filed a draft registration statement with the Securities and Exchange Commission, paving the way for plans for an eventual initial public offering.
The announcement comes as interest in bitcoin and other cryptocurrencies has skyrocketed during the coronavirus pandemic. Investors have found such currencies attractive as the US dollar weakens.
Bitcoin has broken its own price records and recently surpassed the symbolic milestone of $ 20,000 per coin. It has continued to rise higher ever since, last trading for just $ 23,000, according to data provider Refinitiv.
Coinbase was launched in 2012, according to its website, and “more than 35 million people in more than 100 countries rely on Coinbase to buy, sell, store, use and earn cryptocurrency.” The company states that it has more than $ 25 billion in assets on the platform and more than $ 320 billion in total volume traded.
Coinbase declined to make additional comments.