Cryptocurrency trading market Coinbase waits to get the approval of the Securities and Exchange Commission (SEC). Afterwards, the protocol will be able to launch an Inicial Public Offering.
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Coinbase has been planning to launch an IPO since summer. The protocol is really popular. Launched in 2012, today, over 35 million people in over 100 countries choose Coinbase to trade, store or earn crypto assets. The daily volume of trading assets on the platform reaches $25 B.
Armstrong's own stake in the Coinbase exchange is worth a reported $1.3 billion. If the IPO has success, Brian Armstrong will get extremely rich.
The company built an open monetary structure that mostly receives funds from two origins: its functions as a crypto market used by traders and institutional investors, and its custodial services for digital assets provided to banks and other financial organizations.Coinbase's IPO is supposed to attract more investors to the crypto industry, offering a safe and regulated field for crypto activities. This, in its turn, will lead to further innovation for financial markets and services.