Coinbase expands into primary market with IPO allocations for US customers

Coinbase has launched a service allowing its US customers to participate in initial public offerings, beginning with a share offering for health tech company Oura.

The move marks a significant expansion for the crypto exchange giant beyond its core business of secondary-market stock trading and into the primary market for new listings. This initiative follows Coinbase’s recent rollout of pre-IPO derivatives products, which allowed users to gain exposure to companies before they go public.

By offering IPO allocations, Coinbase is directly competing with traditional brokerages that have historically controlled access to new stock offerings. The service aims to democratize access to these investment opportunities, which are often reserved for institutional clients or high-net-worth individuals at major financial firms.

The launch with Oura, known for its smart ring technology, serves as the pilot for this new offering. Coinbase’s foray into primary markets represents a strategic effort to diversify its revenue streams and deepen its relationship with retail investors by providing a more comprehensive suite of financial products.