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Official Filing Hints At Launch of Coinbase’s Own Crypto Asset

coinbase token

US-based digital currency exchange Coinbase is dropping hints that they may be launching a new native token of their own.

Based on its official filing with the U.S. Securities and Exchange Commission (SEC) to obtain approval for an initial public offering (IPO), Coinbase mentions that it may issue its own blockchain tokens, in accordance to its capital-raising strategy which includes financially supporting its now-public company.

In an effort to generate more capital and to clear up debt, Coinbase suggests a plan where it would let the blank check preferred stock be issued by its board of directors in the form of blockchain token and also make the tokens available to customers on the exchange.

The filing states issuing the tokens may come with some risk as the capital that went into the tokens could affect Coinbase’s share value.

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