Coinbase Global will launch a new platform allowing individual investors to buy digital tokens before they debut on the exchange, lifting its shares by 4% in early trading.
The move comes amid renewed interest in digital assets from both retail and institutional investors, prompting established crypto firms to expand their offerings to capture a share of the multitrillion-dollar market.
The platform will host roughly one token sale per month, with an algorithm determining allocations. Investors can submit purchase requests during a one-week window.
“Token issuers coming to market today struggle to get their tokens into the hands of real users while building deep exchange liquidity. Coinbase is changing that,” the company said in a blog post.
Coinbase noted this marks the first broad chance since 2018 for U.S. users to participate in public token sales. The last wave of initial coin offerings in 2017 faded after regulators raised red flags over investor protection and disclosure standards.
Future updates will include features such as limit orders and preferential allocations for an issuer’s core user base. All purchases will be made using USD Coin, the dollar-pegged stablecoin issued by Circle Internet Group.
According to the Wall Street Journal, blockchain startup Monad will be the first project to sell its token through the new platform next week.
