Coinbase upsizes debt offering to $2 billion

© Reuters/SHANNON STAPLETON The logo for Coinbase Global Inc is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York

(Reuters) – U.S. cryptocurrency exchange Coinbase Global Inc said on Tuesday it increased the size of its debt offering to about $2 billion from previously announced $1.5 billion, citing market interest.

The offering will be used to invest in product development and potential mergers and acquisitions, the company said.

The fundraising plans come less than a week after Coinbase said U.S. regulators would sue the exchange if it went ahead with plans to launch a program allowing users to earn interest by lending digital assets.

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(Reporting by Sabahatjahan Contractor in Bengaluru; editing by Uttaresh.V)

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