Coinbase Global Inc has received approval from the regulator to place its shares on the U.S. stock exchange's Nasdaq index. The decision by the U.S. Securities and Exchange Commission (SEC) has added new strength to the legitimacy of digital currencies, which are rapidly gaining approval in the mainstream financial services industry.
Earlier in the week, the financial services company announced that transactions on the Visa payment network could be made with the cryptocurrency USD Coin, Reuters reported. PayPal, on the other hand, announced that it allows us consumers to shop online with cryptocurrencies.
Coinbase, which plans a direct IPO, estimates its shares will start trading on the Nasdaq on April 14.
In the direct IPO method, none of the shares are sold in advance, unlike in the initial public offering. The company's share price will be determined by orders to the stock exchange.
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