Coinbase, one of the top crypto exchanges, has expanded its financial market offerings once again. Starting today, it is allowing its eligible US retail customers to request allocations in initial public offerings (IPOs). This move gives retail users access to primary market offerings before shares begin trading publicly. Coinbase announced this news officially via its X account. In a relevant news, Binance Wallet announced tokenized pre-IPO offerings yesterday.

Now you can participate in IPOs on Coinbase

We’re giving US retail customers more access to primary financial markets.

This is the next step toward building the Everything Exchange, a trusted platform to trade any asset at any stage of its lifecycle. pic.twitter.com/uNXRWIdjwk

— Coinbase 🛡️ (@coinbase) September 21, 2026

The first IPO available through the platform is Oura. Oura is a smart ring maker company and plans to list its shares on Nasdaq under the ticker OURA. Oura has filed for an IPO with a proposed price range of $40 to $44 per share. The offering consisting of shares sold by Oura and existing selling stockholders.

How to Participate in IPOs on Coinbase

A new IPO section is now available within the Coinbase app. The interface allows to easily select an active offering, fund account, and submit a Conditional Offer to Buy after the expected price range becomes available.

Once the order period closes, shares are allocated according to the offering’s established methodology. Customers may receive their full requested allocation, a partial allocation, or no shares, depending on available supply and overall demand.

Allocated shares will be credited to users at the IPO offer price and become tradable on Coinbase after public market trading begins.

Coinbase Introduces Rules for Repeat IPO Participation

Coinbase said customers who sell IPO shares within the first 30 days may face restrictions on participating in future offerings for the following 60 days. Repeat short-term sellers may also receive smaller or less frequent allocations in subsequent IPOs.

Coinbase said it expects to provide additional IPO opportunities as allocations become available through its selling-group relationships. Customers interested in participation must also complete a standard FINRA eligibility questionnaire.

The IPO service is facilitated by Coinbase Capital Markets Corporation (CCM). CCM is a FINRA-registered broker-dealer and SIPC member. It acts as a best-efforts selling-group member by aggregating customer orders and routing them through its clearing partner, Apex Clearing Corporation. CCM only operates as an agent in the IPO allocation process.

It is pertinent mention that IPO participation carries significant risks. The eventual market price of shares can differ from the IPO price.