Coinbase Launches Subscription Model in US and Outside
- The program was launched under beta in 2021.
- It has plans to expand the service to 35 other countries.
Coinbase (Nasdaq: COIN) has rolled out a zero-fee subscription service, Coinbase One, allowing users to trade cryptocurrency at a zero fee and receive higher staking rewards.
A Subscription Model of Coinbase
The $29.99-a-month service has been opened for users in the United States, as well as the United Kingdom, Germany, and Ireland. Initially, Coinbase launched these services in the US in 2021 under a beta program.
"For frequent traders, Coinbase One offers members opportunities to execute more trades on hundreds of assets without worrying about trading fees on every transaction. For long-term investors, Coinbase One allows members to get the most out of the cryptoeconomy and all that Coinbase has to offer," Coinbase wrote in a blog post.
Additionally, Coinbase highlighted its plans to expand the service of Coinbase One to more countries in the coming months with its "international expansion strategy." The exchange did not name any of those countries; however, according to Coindesk, it will be an additional 35 countries.
"No matter if you're an active trader or longer-term investor, Coinbase One will continue bringing members the best that Coinbase offers and enable them to save, earn, and do more with their crypto," Coinbase added.
Ongoing Regulatory Tussle
Coinbase is a public cryptocurrency exchange Cryptocurrency Exchange A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f Read this Term in the United States. Despite the exchange's popularity, it is facing a tussle with regulators. The exchange received a Wells Notice from the Securities and Exchange Commission (SEC Securities and Exchange Commission (SEC) The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.Wha The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.Wha Read this Term) and is expecting an enforcement action. Furthermore, Coinbase sued the SEC for not clarifying its decision-making process around cryptocurrencies.
Meanwhile, Coinbase's CEO, Brian Armstrong, recently said that the crypto regulations in the US are too harsh, and he might consider moving the exchange outside the country. Moreover, the San Francisco-headquartered exchange received a Bermuda license a few days after those comments and also launched an international crypto derivatives exchange.
On top of that, the exchange narrowed its losses significantly in the first quarter of 2023 to $79 million, with total revenue of $773 million, beating market expectations.
Coinbase (Nasdaq: COIN) has rolled out a zero-fee subscription service, Coinbase One, allowing users to trade cryptocurrency at a zero fee and receive higher staking rewards.
A Subscription Model of Coinbase
The $29.99-a-month service has been opened for users in the United States, as well as the United Kingdom, Germany, and Ireland. Initially, Coinbase launched these services in the US in 2021 under a beta program.
"For frequent traders, Coinbase One offers members opportunities to execute more trades on hundreds of assets without worrying about trading fees on every transaction. For long-term investors, Coinbase One allows members to get the most out of the cryptoeconomy and all that Coinbase has to offer," Coinbase wrote in a blog post.
Additionally, Coinbase highlighted its plans to expand the service of Coinbase One to more countries in the coming months with its "international expansion strategy." The exchange did not name any of those countries; however, according to Coindesk, it will be an additional 35 countries.
"No matter if you're an active trader or longer-term investor, Coinbase One will continue bringing members the best that Coinbase offers and enable them to save, earn, and do more with their crypto," Coinbase added.
Ongoing Regulatory Tussle
Coinbase is a public cryptocurrency exchange Cryptocurrency Exchange A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f Read this Term in the United States. Despite the exchange's popularity, it is facing a tussle with regulators. The exchange received a Wells Notice from the Securities and Exchange Commission (SEC Securities and Exchange Commission (SEC) The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.Wha The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.Wha Read this Term) and is expecting an enforcement action. Furthermore, Coinbase sued the SEC for not clarifying its decision-making process around cryptocurrencies.
Meanwhile, Coinbase's CEO, Brian Armstrong, recently said that the crypto regulations in the US are too harsh, and he might consider moving the exchange outside the country. Moreover, the San Francisco-headquartered exchange received a Bermuda license a few days after those comments and also launched an international crypto derivatives exchange.
On top of that, the exchange narrowed its losses significantly in the first quarter of 2023 to $79 million, with total revenue of $773 million, beating market expectations.