Cryptocurrency exchange Coinbase filed for an IPO

Cryptocurrency exchange Coinbase has applied for an IPO on Nasdaq.

Coinbase has applied to the US Securities and Exchange Commission (SEC) for an IPO on the Nasdaq.

As a procedure, the application to the US regulator brought Coinbase one step closer to trading on the Nasdaq stock exchange, and it was an important step in making cryptocurrencies mainstream.

Coibase's IPO came after Bitcoin prices closed 2020 with a rise of up to 300 percent. The company plans to hold an IPO where its existing shareholders can sell their shares, rather than a traditional IPO where new shares are sold.

The US media claimed that Coinbase's market value exceeded $ 100 billion, according to the latest share sale last week.

With a total of 43 million registered users, Coinbase reached a turnover of $ 1.1 billion in 2020 and made a net profit of $ 322 million.

According to the information in the application to the SEC, 456 billion dollars of transactions have been made on the platform so far. 193.1 billion dollars of this occurred in 2020. The total value of the assets on the platform is around 90 billion dollars.