US-based cryptocurrency company Coinbase plans to issue $1.5 billion worth of bonds to be used for the company’s general purposes.
Coinbase will issue a total of $1.5 billion worth of bonds with a maturity of 2028 and 2031 to qualified investors through private placement.
The money raised could be used to develop a product, buy a company, or potentially invest in a company, product or technology.
Coinbase, which went public in April of this year, published a separate announcement in May and announced that it plans to issue $1.25 billion worth of bonds.