Coinbase Launches Public Token Sales with U.S. Access

• Coinbase debuts public token sales for U.S. retail users, starting with Monad’s MON token.
• The platform uses a fair allocation system prioritizing smaller and verified participants.
• Issuers face six-month lockups and mandatory disclosures to ensure market transparency.

Coinbase has introduced a new public token sales platform, allowing retail investors, including those in the United States, to buy digital tokens before they are listed. The first sale will feature Monad’s MON token from November 17 to 22, the first U.S.-wide public crypto token sale since the 2018 regulatory crackdown.

Platform Returns To U.S. Public Token Offerings

The move restores American retail activity in public token sales for the first time in seven years. According to Coinbase, the platform will host about one token sale per month, each running on an algorithm that prioritizes broad participation over large single purchases.

Unlike earlier “first-come, first-served” models, the system uses a “filling up from the bottom” method to ensure fairer distribution. Smaller purchase requests receive priority, while larger ones are filled progressively until supply runs out. The approach aims to prevent token concentration among major investors.

Participants will have a one-week request window to submit purchase orders using USDC, a dollar-pegged stablecoin issued by Circle Internet Group. Once the window closes, the Coinbase allocation algorithm determines final distributions. Only verified Coinbase users in good standing can take part, ensuring compliance with regulatory standards.

Stricter Rules For Issuers And Users

Coinbase has set out detailed rules to strengthen trust and transparency for both token issuers and buyers. Head of trading Scott Shapiro stated that users who quickly sell tokens after listing, within 30 days, will receive smaller allocations in future sales. 

The design prioritizes genuine supporters rather than short-term traders. Issuers and their affiliates will face a six-month lockup, preventing token sales on over-the-counter or secondary markets without Coinbase’s approval. 

Any sale during this period must be publicly disclosed. The company said issuers must provide detailed disclosures on the project, tokenomics, and team before a sale begins, giving users the information needed to make informed decisions.

Coinbase emphasized that it charges no participation or listing fees for users. Instead, issuers pay a fee based on the amount of USDC raised from the sale. The exchange added that the platform is independent from Echo, the onchain fundraising startup it acquired for about $375 million last month.

Related: Coinbase Chief Claims Crypto Expands Financial Autonomy Worldwide

Monad to debut as first token 

Monad, an Ethereum-compatible Layer 1 blockchain, will launch its MON token as the platform’s first project. The sale will run from November 17 to 22, ahead of Monad’s mainnet debut on November 24. 

According to project details, up to 7.5 billion MON tokens, which is 7.5% of the total supply, will be available at $0.025 each. Purchase limits will range between $100 and $100,000, and unsold tokens will be redirected toward ecosystem development. 

About 3.3 billion MON tokens have already been distributed through an airdrop to Monad community members. The remaining supply will be split between ecosystem development, team allocations, investors, and the project treasury.

Monad stated that nearly half of the total supply, around 50.6%, will remain locked for at least a year. Team and investor tokens, totaling about 46.7 billion MON, will fully unlock by the fourth anniversary of Monad’s mainnet launch in 2029. Locked tokens will not be eligible for staking, a measure meant to prevent reward concentration among insiders.

The platform’s launch follows a broader strategy by Coinbase to diversify revenue beyond trading fees. By hosting token sales and expanding its listings roadmap, the company aims to provide early access to verified projects while giving issuers a regulated avenue to reach a global user base.

Coinbase said it plans to introduce additional features in the coming months, including limit orders and higher allocations for a project’s target user groups. The company added that the initiative represents a new structure for crypto fundraising, emphasizing fairness, compliance, and deeper liquidity for emerging digital assets.

Meanwhile, Coinbase’s launch of a public token sales platform is a return of regulated U.S. retail participation in crypto offerings. By introducing transparent allocation rules, strict issuer disclosures, and global accessibility, the exchange is creating a controlled framework for early-stage token sales. The debut of Monad’s MON token will be the first test of this new model.