Coinbase preparing for stock market listing

Today Reuters revealed Coinbase has initiative preparations for a stock market debut that could come as early as this year. According to Reuters sources the company is exploring going public via a direct listing rather than an IPO. The listing will need the SEC blessing, which if greenlighted would be a landmark victory for the cryptocurrency industry. Coinbase was valued at more than $8 billion in its latest private round.

Why it matters:

• The listing would make it the first cryptocurrency exchange to go public, and the first major cryptocurrency unicorn to go public outside the mining industry.
• The listing will be a big boon to legitimizing the industry. It will force many institutional investors and banks to diligence Coinbase and the asset class.