Coinbase marketplace is heading for Wall Street
It could be the biggest IPO of the year. Driven by the soaring cryptocurrencies, the Coinbase marketplace is heading for Wall Street on Wednesday. America's largest trading for crypto currencies is one of the big hopes in the sector. With it, the world's first crypto exchange jumps onto the US floor. The shares are traded on the Nasdaq exchange under the symbol COIN.
The Omens For The IPO Could Not Be Better
The platform, which is now nine years old, was able to acquire more than 10 million customers in the first quarter of this year alone. Not least because of the unbroken demand for Bitcoin, the oldest of all crypto currencies, the company's turnover has recently skyrocketed. Coinbase posted almost $ 2 billion in the first three months of this year - nine times more than in the same quarter of the previous year.
With a possible valuation of 100 billion, Coinbase could even have the most successful IPO of the year on Wednesday. Almost 55 million users in more than 100 countries are now using the service of the trading.
The Crypto Industry Is Here To Stay
The listing should be a milestone on the way to wider acceptance of cryptocurrencies. So far, the sector has struggled to gain the trust of mainstream investors, regulators and the public. Many people argue that cryptocurrencies cannot be given intrinsic value. This IPO could show the markets that the crypto sector is here to stay.
Increasing Acceptance Of Crypto Currencies
The current rise of cryptocurrencies is fueled by the increasing acceptance of banks and companies. In addition to the payment providers, companies and car manufacturers now also allow foreign exchange to be used.
However, the cautious approach to the new crypto world is just the beginning, believes Coinbase founder. Within a decade, the number of people using the blockchain will explode from 50 million to one billion.