Coinbase One, A Subscription Service, Is Now Available In 35 European Countries

Key Points:

• The subscription service Coinbase One is now accessible in the United States of America, the United Kingdom of Great Britain and Northern Ireland, Germany, and Ireland.
• A few of the many advantages of subscribing to the service include that there are no transaction costs, higher staking incentives, customer service that is available around the clock, and pre-filed tax returns.

Coinbase has announced the availability of Coinbase One in Europe.

Coinbase, a cryptocurrency exchange, is launching Coinbase One, a subscription service, in 35 countries/regions to retain users and increase recurring revenue streams while the crypto sector struggles through the bear market. Coinbase One debuted in beta in the fall of 2021 and is now available for purchase in the United States, United Kingdom, Germany, and Ireland. 

In the next months, the business plans to expand the service to 31 other European countries. There are no transaction fees, increased staking incentives, 24/7 customer assistance, and pre-filed tax returns among the numerous perks of the subscription service.

Historically, trading fees accounted for a large portion of Coinbase’s revenue, particularly during the bull market, but as the crypto winter continues, the company is looking to new methods to generate development and diversify its revenue sources.

According to Coinbase’s senior director of product management, the company wants to create a longer, deeper relationship with its clients and make it a win-win situation. There was a lot of growth during the bull market 18 months to two years ago, and they wanted clients to stay.

That method appears to be working for the time being. Coinbase‘s subscription and services revenue increased 138% year on year to $361.7 million in the first quarter of 2023, from $152 million the previous year. According to the company’s Q4 2022 shareholder letter, subscription and services revenues increased more than 17 times to $793 million in 2022 from less than $50 million in 2020.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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