Coinbase announced today that it will move its legal incorporation from Delaware to Texas following approval by the majority stockholders through written consent. The change will not affect operations, offices, or trading of its shares.

The decision is driven by the benefits of Texas’ pro-business, innovation-friendly corporate laws, including greater predictability, lower litigation risks, and enhanced statutory protections for boards and shareholders.

The move comes as interest in reincorporation away from Delaware has increased following the Delaware Court of Chancery’s invalidation of a high-profile executive compensation package.

Texas has emerged as a destination for companies seeking alternative legal environments for incorporation.