usethebitcoin.com
Coinbase could be searching to go public through an Inital Public Offering (IPO) and it is also planning a new Virtual Investor Day. According to Daniel Harrison, a Coinbase spokesperson, this is not going to be a traditional investor day. However, he did not provide further details about the event.
What Are Coinbase’s Plans?
Coinbase is one of the most popular and largest companies in the cryptocurrency world. There are many users currently trading and investing in digital assets using this platform. During the last few days, some rumours spread regarding the possibility for Coinbase to go public through an IPO.
According to Daniel Harrison, the upcoming Investor Day is going to be a great opportunity to learn more about their perspective and role in the cryptocurrency market.
On the matter, he stated:
“This will not be a traditional investor day, but rather an opportunity to hear our perspective on the crypto economy and learn about Coinbase’s role in the ecosystem.”
The main reports about a Coinbase IPO were released by Reuters citing Coinbase Sources. Apparently, the firm could be launching its IPO during this year or in 2021.
During the last few years, Coinbase has been competing against a larger number of exchanges in the market and also with several other virtual currency companies that were offering decentralized solutions to crypto holders. This is why Coinbase increased the services it was offering and it has also expanded the number of digital assets available on its platform.
Nowadays, users can trade a wide range of virtual currencies, including the most popular such as Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) and smaller cap coins such as Loom Network (LOOM) or Decentraland (MANA). Furthermore, Coinbase is also offering other financial services such as staking for selected virtual currencies and custody of coins for larger and institutional investors.
Competitors Expanding
Binance, one of Coinbase’s many competitors continues to offer new and more efficient solutions to users as their products and services improve over time. At the same time, the Binance ecosystem continues to be one of the most extensive in the virtual currency industry and the blockchain world.
The efforts conducted by both Binance and Coinbase are going to help the entire crypto market to expand and onboard new users. Of course, a Coinbaselisting is going to be more than bullish for the crypto market that continues to get more mature every single year.