Coinbase Opens IPO Allocation to US Users, Oura First in Line

This time, Coinbase isn't just letting users trade stocks that are already publicly listed—it's reaching into the phase before a company even goes public: IPO subscriptions. According to The Block, Coinbase has opened up IPO allocation applications to US users, with Oura being the first company available for subscription.

For a platform that built its name on crypto trading, the real story here isn't about any single stock—it's about a shift in market positioning. Coinbase's stock-related business has so far focused on the secondary market, meaning trade matching after a stock is already listed. This move into IPO subscriptions pushes things one step further, into the primary market before companies go public, giving everyday users a shot at getting an allocation before shares actually start trading.

This isn't Coinbase's first test of these waters, either. Reports note that this IPO subscription feature follows directly on the heels of the pre-IPO derivatives the company rolled out earlier. Taken together, Coinbase is extending its reach well beyond its core exchange business, into private equity dealings that have traditionally been reserved for institutional investors or private banking clients.

That's all the public information available for now—details like the size of the subscription allocation and whether other companies will follow Oura haven't been disclosed.