Coinbase Expands Beyond Crypto with Retail Access to Oura IPO

Coinbase has expanded its services beyond cryptocurrency by offering eligible US customers access to IPO shares at the offer price before public trading begins. The company's brokerage arm, Coinbase Capital Markets, is participating in Oura's planned $2.2 billion public offering as a best-efforts selling-group member.

The first deal available through this service is Oura, a smart-ring maker that plans to sell 50 million shares at an expected price of $40 to $44 each. This would value the IPO at between $2.0 billion and $2.2 billion.

To participate in Coinbase's IPO program, customers must have a Coinbase Capital Markets brokerage account and be eligible US residents. They can submit a Conditional Offer to Buy through Coinbase's web or mobile platforms once an expected IPO price range is available. The offer is just a request, not a guaranteed purchase.