Coinbase to Offer New Crypto Tokens to Traders Ahead of Listing

Coinbase Global Inc. plans to launch a platform that will allow select groups of investors early access to new cryptocurrencies, before those tokens are made available for trading on its main exchange.

The largest US crypto exchange will use an algorithm to determine who receives the tokens, according to a blog post on Monday, in an aim to limit asset concentration among large purchasers. Individual recipients who sell their tokens within a month of launch may receive lower allocations in future releases, while token issuers and their affiliates will be barred from selling their holdings for six months.

Monad, a ...