US-based crypto exchange Coinbase plans to increase the volume of publicly offered bonds maturing in 2028 and 2031 to $2 billion, Reuters has reported.
According to the publication, Coinbase's executives have made this decision due to high demand. The trading platform initially intended to issue $1.5 billion in bonds.
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Coinbase will use the funds raised to develop new products and expand its workforce. In addition, the funds may be used to acquire other companies.
Coinbase already issued $1.25 billion in bonds back in May. In April, Coinbase acquired UK-based analytics platform Skew and integrated its products into Coinbase Prime, its platform for institutional investors.