Asian Tech Press (SEP 14) -- Cryptocurrency exchange Coinbase Global Inc. is looking to raise $1.5 billion through a debt offering.

Coinbase stated that the fundraising would allow it to improve its balance sheet. The proceeds will be used for the company's general purposes, including continued investment in product development and potential investments in or acquisitions of other companies, products or technologies.

Coinbase reportedly had $4.4 billion in cash and cash equivalents and about $1.5 billion in non-current liabilities at the end of Q2 2021.

Based in the US, Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrencies like Bitcoin and Ethereum.