The crypto trading platform has executed a direct listing and is now valued above $85bn, six years after BBVA, New York Stock Exchange, NTT Docomo and USAA backed it at a $490m valuation.
Coinbase, the US-headquartered crypto trading platform operators backed by corporate investors New York Stock Exchange (NYSE), BBVA, NTT Docomo and USAA, went public in a direct listing yesterday.
The company’s shares opened on the Nasdaq Global Select Market at $381 each, comfortably above the listing’s guide price of $250. They are trading at roughly $327 each at time of publication, equating to a market capitalisation of approximately $85.5bn.
Coinbase’s online platform has more than 43 million verified users who…
