Coinbase Eyes Goldman Sachs To Spearhead Its IPO

Cryptocurrency exchange, Coinbase made news all year long. The exchange overshadowed the headlines for all the wrong reasons. Brian Armstrong’s lead exchange suffered a variety of rebellions, especially while Bitcoin was recording a surge. This time, however, the exchange made headlines following a series of developments in which it was participating. Starting from news related to developer Rosetta grants to his recent activity in the IPO division.

Coinbase Ties With Goldman Sachs

Virtually all platforms in the crypto universe have been promoting mainstream crypto adoption. Coinbase seems to be jumping on to the bandwagon. The exchange recently revealed that it has encouraged prominent investment banking firm Goldman Sachs to lead its upcoming IPO aka initial public offering. The San Fransisco exchange’s connection to the banking giant goes back as Coinbase co-founder Fred Ehrsam was reportedly part of Goldman Sachs between 2010 and 2012.

This news comes out a day after the exchange revealed its intentions of going public. A draft registration addressed to the SEC had shed light on the exchange’s latest move. While the exchange was priced at around $ 8 billion back in 2018, a recent report by Messari, a crypto analytics platform, suggested it could be worth $ 28 billion after its offer.

Coinbase Commerce Latest Add-on

In a recent tweet, the exchange noted that its subsidiary, Coinbase Commerce had incorporated an invoicing feature into its system. Making it available to over 8,000 traders was much easier, sending an invoice. The tweet reading,

“Invoicing on Coinbase Commerce is now available. Merchants can easily create and send crypto invoices that customers can view and pay online. We build simple crypto payment tools to help merchants achieve their business goals. Learn more here: ”

While many praised the exchange for its developments, a few others penetrated the comments section with issues concerning the cryptocurrency exchange’s website. Several members of the crypto community suggested that an exchange in San Fransisco seeks to become more like a bank rather than a cryptocurrency exchange.