Coinbase Gets SEC Approval to List Securities
Leading US cryptocurrency exchange Coinbase has gotten the approval of US regulators to acquire a number of financial service companies that will allow the exchange list coins that are deemed as securities.
Bloomberg reported on Monday that both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FIRA) approved Coinbase’s purchase of the companies Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC.
With the acquisition, Coinbase seeks to extend its offerings and subsequently expand into non-crypto financial products. In a statement released last month, the company said it’s looking to “work with regulators to tokenize existing types of securities,” which the exchange believes will “democratize access to capital markets for companies and investors alike, lowering costs for all participants and bringing additional transparency and inclusion to the ecosystem.”
The report comes hot on the heels of last weeks’ announcement that Coinbase is considering listing several new coins including Cardano, Basic Attention Token, Stellar Lumens, Zcash and 0X.
The exchange has also acquired decentralized crypto relay platform Paradex as it looks to expands its services to customers outside the US. Last month, the San Francisco-based exchange launched the Coinbase Custody; its crypto storage service aimed primarily at large financial institutions.