The platform application “Coinbase” has established itself as the leading cryptocurrency exchange system in the US with an estimated 35 million users. The company was established in 2012, enabling customers easy and quick access to buy and sell an increasing number of digital currencies, leading up to a present valuation of around $8 billion.
On Thursday “Coinbase” filed a draft registration on Form S-1 with the SEC, which is now in assessment. In the meanwhile, popular cryptocurrency Bitcoin has tested the $24,000 mark after just passing $20,000 yesterday.
The increasing popularity of this alternative asset class has enabled the growth of “Coinbase”. This trend is expected to continue as institutional investors turn towards the market and digital currencies are considered to be increasingly implemented as means of exchange.
Future success of “Coinbase” will depend on the adoption of cryptocurrencies by the general public, counter-plans for centralized digital currencies, and how the platform can justify its fee-based business model in a monetary system which is intended to be decentralized.