Coinbase Revives Regulated Token Sales for US Retail Investors with New Platform

Furedata - Coinbase has unveiled a new platform for primary token offerings. This initiative restores access for retail investors in the United States to regulated cryptocurrency sales for the first time since the 2018 market peak.

The exchange intends to facilitate approximately one token sale each month. The platform’s debut features the blockchain protocol Monad, which will offer its native token for purchase between November 17 and 22.

A weeklong window allows users to place purchase requests. Information from Cointelegraph (November 11, 2025), details an allocation algorithm designed to fulfill smaller orders first, promoting broader participation and discouraging large-scale speculative purchasing by single entities.

To deter rapid selling, the company confirmed that users who quickly offload new tokens will face reduced allocations in subsequent sales. This system is intended to promote a more stable secondary market post-launch.

Participation requires a verified Coinbase account, and transactions must be settled using USDC, the stablecoin issued by Circle. Issuers are subject to a six-month lockup on founder tokens, preventing premature sales without approval.

This launch represents a major opportunity for the American public to engage in token sales again. While participation is free for buyers, issuing projects pay a fee calculated on the total USDC raised.

Initial coin offerings, or ICOs, became a dominant fundraising vehicle in 2017. The method peaked in the first half of 2018, amassing over $13.7 billion, more than double the total from the prior year.

The ICO era concluded after 2018 due to increased regulatory actions, with the SEC classifying many tokens as securities. Widespread investor losses and a prolonged bear market also contributed to the market's downturn.