Coinbase Launches Platform for Pre-listing Token Purchase

Coinbase is launching a platform that enables individual investors to purchase digital tokens before they list on the exchange. Blockchain startup Monad will be the first project to sell tokens through the service.

Genuine, long-term supporters deserve more.

Whales, insiders and flippers shouldn’t be the only winners from token launches.

We’re launching a token sales platform on Coinbase to give teams a new way to distribute their token to their community, and give the community early… https://t.co/OdBKQLeCeJ

— Brian Armstrong (@brian_armstrong) November 10, 2025

The Wall Street Journal reported the development on Monday. The platform marks a significant shift in how retail investors access early-stage cryptocurrency projects.

The new service will host approximately one token sale per month. An algorithm will allocate tokens among investors who submit purchase requests during a specified one-week period.

Monad is one of Coinbase Ventures’ portfolio companies. The venture arm participated in Monad Labs’ $225 million Series A funding round in April 2024.

Coinbase Expands Access Through Echo Integration

The initiative follows Coinbase’s acquisition of Echo. The purchase aims to democratize and streamline early-stage investing in the crypto space.

Coinbase plans to expand this model beyond initial token offerings. The exchange intends to include tokenized securities and other real-world assets on the platform.

The expansion would create a comprehensive ecosystem for token sales and fundraising. This approach could reshape how cryptocurrency projects access capital and distribute tokens to early supporters.

The one-week submission window provides investors time to evaluate opportunities. The algorithmic allocation system aims to distribute tokens fairly among participants.

Crypto Fundraising Gains Momentum

Meanwhile, Circle, the issuer of USD Coin (USDC), went public on the New York Stock Exchange. The company sold 34 million shares at $31 each, raising approximately $1.05 billion.

Circle is now officially a public company, listed on the @NYSE under $CRCL.

With @USDC, EURC, Circle Payments Network & more, we're pushing forward a future of frictionless value exchange.

We are not just building financial products. We are building the money layer of the… pic.twitter.com/spBzjMzsVY

— Circle (@circle) June 5, 2025

The offering valued Circle at roughly $8 billion on a fully diluted basis. The stock surged significantly on its first trading day, opening around $69 per share.

The listing marks one of the biggest crypto company debuts in 2025. Circle represents the infrastructure and stablecoin category rather than exchanges or mining operations.

Following this development, CMT Digital closed its fourth cryptocurrency venture fund at $136 million in early October 2025. Fortune reported the fundraising attracted capital from family offices, high-net-worth individuals, and large institutions.

The capital raise represents CMT Digital’s largest fund to date. The firm previously raised $25.5 million, $130 million, and $100 million across its first three funds.

Gerald Brant led the capital formation as CMT Digital’s Head of Capital Formation. Brant previously held identical roles at BlockTower Capital and Pantera Capital.

At Pantera Capital, Brant oversaw asset growth from $400 million to $5.5 billion. His track record in cryptocurrency fundraising spans multiple market cycles.

The firm began fundraising efforts in May 2024 with an initial target of $150 million. The final amount of $136 million came close to the original goal despite market volatility.