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Cryptocurrency firm Coinbase sees prices skyrocket during market debut

COINBASE IPO
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COINBASE INITIAL PUBLIC OFFERING

(WKOW/CNN) - Cryptocurrency exchange Coinbase Global Inc. is currently valued in the billions following its debut on the public market this week.

The exchange platform is used to buy, sell or store digital currency.

On Wednesday, Coinbase opened its first initial public offering (IPO) with a trading worth of about $1.2 billion dollars.

Coinbase is currently listing shares directly on the NASDAQ instead of selling new stock through an IPO.

Shares started at $381, but those prices are expected to climb.

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