Coinbase has officially expanded into primary equity markets, allowing eligible US retail users to request initial public offering (IPO) allocations directly through its mobile application. The feature debuts this week with smart-ring manufacturer Oura Inc., giving users the ability to submit conditional offers for shares at the listing price prior to public exchange trading.
Oura is going public.
Eligible Coinbase users can now request an allocation in the @ouraring IPO at the offer price, before public trading begins. pic.twitter.com/590nHsoQxH
— Coinbase 🛡️ (@coinbase) September 21, 2026
Depending on underwriter supply and overall investor demand, share allocations may be fulfilled in full, partially, or not at all. Coinbase framed the launch as another milestone in its ambition to construct an “Everything Exchange,” providing retail users early access to high-demand companies before they hit public markets.
The primary market expansion builds upon Coinbase’s previous traditional asset initiatives. In June, the company introduced pre-IPO perpetual futures for non-US traders, offering synthetic derivative price exposure to private firms such as SpaceX. Unlike derivatives, this new securities product grants true equity ownership, executed and cleared through Coinbase Capital Markets in partnership with Apex.
The move coincides with a broader push into traditional equities, options, indices, and ETFs, alongside account transfer features for existing stock portfolios. Earlier this month, Coinbase also submitted a notice registration form with the US Securities and Exchange Commission to gain regulatory clearance for listing equity perpetuals.
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