Coinbase Expands its Subscription Service Coinbase One to Over 35 Countries
In Brief
Coinbase has announced that it is expanding its Coinbase One subscription to the United Kingdom, Germany, and Ireland.
The platform plans to expand to over 35 countries.
Second-largest crypto exchange Coinbase has introduced updates for Coinbase One. The exchange’s subscription service is reportedly expanding to Ireland, the United Kingdom, and Germany. The platform continues its global expansion, planning to roll out the service in over 35 countries.
Coinbase’s monthly subscription, which costs $29.99 monthly, allows members access to exclusive market insights and analytics through partner Messari. Coinbase intends to further enhance its perks shortly, including retirement account perks through Alto IRA, discounts on crypto events through Blockworks, discounts on personal insurance through Lemonade, and six months of free portfolio tracking through CoinTracker.
In a statement shared by TechCrunch, the platform’s Senior Director of Product Management at Coinbase, Phil McDonnell, said: “Maybe 18 months ago, it was very transactional. People come in, trade, pay a fee, and that was the relationship. Through the bull market 18 months to two years ago, there was tons of growth, but we wanted customers to stay […] That was the inspiration. How do we build a longer, deeper relationship with our customers and make it a win-win?”
According to the company’s Q1 2023 shareholder letter, data from the company Q1 2023 indicates a 138% increase to $361.7 million USD for the quarter, compared to $152 million USD a year earlier, for subscription and service revenues. The overall performance in 2022 compared to 2020 was 17x, with subscription and service revenues exploding from $50 million USD to $793 million USD.
Even though the offering is not free, Coinbase One has presented itself as a valuable offering for those aiming to use their cryptocurrency exchange for more than just a transactional relationship.
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Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at valerygoncharenko@mpost.io
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Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at valerygoncharenko@mpost.io
