Coinbase to Launch Secondary Market for its Private Stocks on NASDAQ

The U.S. cryptocurrency exchange Coinbase has announced that they would launch a secondary market for its private stock on Nasdaq Private Market.

The move comes ahead of the firm’s initial public offering (IPO).Coinbase promised to provide further details to shareholders on January 25 about the market launch.

The move will likely allow current and former employees with vested equity in the firm to sell shares.It is expected that Coinbase will tap the public markets via a direct listing rather than a standard IPO.

Nasdaq Private Market offers services for companies ahead of an IPO, including “controlled liquidity programs for pre-IPO companies looking to raise secondary capital for shareholders and investors.”