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Coinbase Global listing – virtual currencies move from niche to mainstream
- Wednesday | 14th April, 2021
LONDON (Reuters) -Coinbase Global Inc, the biggest US cryptocurrency exchange, will list on the Nasdaq on Wednesday, marking a milestone in the journey of virtual currencies from niche technology to mainstream asset. Still, some institutional investors voiced caution over long-term prospects for Coinbase and the crypto sector. Swiss asset manager Unigestion said it was wary of the hype around cryptocurrencies, and as a result would not be buying Coinbase Global stock. Founded in 2012, Coinbase boasts 56 million users globally and an estimated $223 billion assets on its platform, accounting for 11.3% crypto asset market share, according to regulatory filings. In 2017 Coinbase was in talks with potential investors on a new round of funding at a valuation of more than $1 billion.
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