Coinbase is in advanced stages for its direct listing under the ticker COIN in one of the most bullish news for the crypto market. The exchange has issued an amended S-1 form, indicating that it has registered 115 million shares for its direct listing. While the revised form does not indicate the date when the listing will take place, it is a huge indication that it is pretty close.
The company also revealed several aspects of its operations in the filing too. It stated that it expects the regulatory issues facing XRP to impact on it operating results in the short-term. This comes after the exchange suspended the trading of XRP on its platform, following Ripple’s issues with the SEC. The company also stated that it had faced some system disruptions last year which was majorly caused by a surge in the number of crypto users.
Besides the challenges, Coinbase has made some positive pointers in its journey to the listing. It has stated that it has made significant investments in its database systems. This, it says, has put it in a better position to deal with the increased trading volumes.
In even bigger news in Coinbase’s journey to the listing, the crypto exchange has announced some of the companies and individuals powering its journey to becoming a listed company. Among them is Union Square’s Fred Wilson, who is now the company’s lead independent director. All these points to listing soon and validation of cryptocurrencies as mainstream investments.