Coinbase has announced the launch of a new service that will allow retail investors to purchase digital tokens before they are listed on the exchange. The initiative marks the company’s first official return to public token sales since the ICO boom of 2017–2018.
According to Coinbase, the platform will host one token sale per month, with each sale remaining open for one week. During that period, users can submit purchase requests using USDC, the stablecoin issued by Circle. A custom allocation algorithm will then distribute tokens among investors to ensure a “broad and fair allocation.”
Only fully verified Coinbase users who meet regulatory compliance standards will be eligible to participate.
The exchange emphasized that all projects featured on the platform will undergo a rigorous evaluation process based on user demand, founder reputation, tokenomics, and asset unlocking schedules.
The first token sale on the platform will feature Monad, a blockchain startup scheduled to launch its public offering on November 17. The project’s token allocation will be structured as follows:
- Ecosystem development — 38.5%
- Team — 27%
- Investors — 19.7%
- Public sale — 7.5%
- Labs Treasury — 4%
- Airdrop — 3.3%
Coinbase described the launch as a major step toward reopening the ICO market to U.S. retail investors, who have largely been excluded since regulators cracked down on token offerings in 2018.
Scott Shapiro, Coinbase’s Head of Trading, said the new system was designed to bring maturity and safety to the space:
“In 2017, the market was young — most teams had nothing but a white paper. Today, we’re dealing with experienced builders and structured token models.”
He added that investor-protection tools will prevent “quick-profit” behavior by penalizing users who immediately sell after listings, while project founders will face six-month lock-up periods to ensure stability.
The new platform will be accessible to most global users from launch, with plans for gradual regional expansion.
