Coinbase, the number one crypto exchange in the US, may be launching its own token very soon.
According to a report, there have been rumours that Coinbase may be going public. The rumour suggests that the initial public offering (IPO) will be sometime within the year or in 2021. There was hardly any surprise within the crypto community as the exchange has a strong market share in the US.
Jeff Roberts, a senior reporter at Fortune, said in an episode of Unchained podcast that an IPO alone is not surprising. But an IPO along with an initial coin offering (ICO) would be exciting. The reporter said:
“I know when I talked to Fred Ehrsam recently, one of the co-founders of Coinbase, he hinted strongly this could be some sort of token issuance. So, I think it could be America’s first combo ICO and IPO, which would be super cool.”
Given that it would be the first time a company simultaneously launches an ICO and IPO, there could be some regulatory challenges.
“Are they going to sell tokens to accredited investors and then, you know, sell general shares to the public? Or can they get the SEC to bless some sort of token issuance?” He added.
Coinbase has yet to officially confirm the suggestions.