Coinbase, a cryptocurrency broker, said Thursday it filed a draft registration statement with the Securities and Exchange Commission, paving the way for plans for a possible initial public offering.
The announcement comes as interest in bitcoin and other cryptocurrencies has soared during the coronavirus pandemic. Investors have found these currencies attractive as the US dollar weakens.
Bitcoin has been breaking its own price records and has recently surpassed the symbolic $ 20,000 mark for currency. Since then, it has continued to rise higher and last traded at about $ 23,000, according to data provider Refinitiv.
Coinbase was launched in 2012, according to its website, and “more than 35 million people in more than 100 countries rely on Coinbase to buy, sell, store, use and earn cryptocurrency.” The company indicates it has more than $ 25 billion in assets on the platform and more than $ 320 billion in total trading volume.
Coinbase declined to provide additional feedback.