Coinbase has expanded into primary financial markets, launching IPO access for eligible U.S. retail investors directly within its app. The rollout begins with smart-ring manufacturer Oura’s IPO, allowing customers to request pre-market share allocations. The move sent Coinbase stock (COIN) up 5% on Monday, as crypto platforms continue to expand into traditional stock markets.
Coinbase officially launched IPO access for eligible U.S. retail investors on Monday, according to a company release. The crypto exchange now allows customers to request pre-market share allocations for upcoming IPOs directly within its app.
The rollout begins with the IPO of smart-ring manufacturer Oura. This marks a significant expansion for Coinbase, which has been moving into traditional financial markets alongside other crypto platforms.
Kraken’s parent company Payward has moved to give retail investors access to selected U.S. IPOs. Separately, Coinbase expanded into U.S. stock trading for UK users and received FCA approval to offer stocks and derivatives.
The news fueled a jump in Coinbase stock, with COIN moving 5% higher on Monday. Investors are watching as crypto firms increasingly compete with traditional brokerages.
Per the press release, customers must fund their accounts before submitting a “Conditional Offer to Buy.” Allocations depend on available shares and total demand, meaning requests can be filled fully, partially, or not at all.
Shares will become tradable on Coinbase once public-market trading begins. The new IPO access is provided through Coinbase Capital Markets (CCM), a FINRA-registered broker-dealer.
CCM will participate in IPOs as a best-efforts selling-group member. It will aggregate customer orders and route them through Apex Clearing Corporation.
