Cryptocurrency exchange Coinbase says it plans to go public via a direct listing rather than an initial public offering.
Last month Coinbase confirmed that it had confidentially filed a draft S-1 registration document with the Securities and Exchange Commission over a public listing.
Now the firm says it will not take the traditional IPO route but instead go for a direct listing, with no new shares created and only existing, outstanding shares available for trading.
Coinbase, which has 43 million registered users and $90 billion of assets on its platform, has not provided any further details and the S-1 is still not public.