Last week, the exchange said it had received approval from the U.S. Securities and Exchange Commission to list on the Nasdaq, marking a tacit regulatory approval for the cryptocurrencies traded on its platform and a victory for advocates of digital currencies. The San Francisco-based company, which opted for a direct listing instead of an initial public offering, plans to start trading on April 14.
Stellar is its secure platform that connects banks, payments systems and users in a network and has its own cryptocurrency called Stellar Lumen, according to its website. Users can turn traditional assets and currencies into tokens, which can then be transferred to other users of the platform. Coinbase was valued at around $68 billion in the private market, thanks to a surge in mainstream acceptance of Bitcoin, the world’s largest virtual currency.
(This story corrects typo in paragraph 1)
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