Coinbase Global Inc (NASDAQ:COIN) provides financial infrastructure and technology for the cryptoeconomy. The company provides primary financial account for the cryptoeconomy, a platform to invest, store, spend, earn, and use crypto assets; an online marketplace for hedge funds, money managers, and corporations; and a platform with technology and services to developers, merchants, and asset issuers that enables them to build applications that leverage crypto protocols. It serves retail users, institutions, and ecosystem partners. The company was founded in 2012 and is based in Wilmington, Delaware.
As the leading mainstream cryptocurrency exchange in the United States, Coinbase has become a standard on-ramp for new crypto investors. Coinbase offers a wide variety of products including cryptocurrency investing, an advanced trading platform, custodial accounts for institutions, a wallet for retail investors, and its own U.S. dollar stable-coin.
Coinbase is a fully regulated and licensed cryptocurrency exchange supporting all U.S. states except Hawaii. Coinbase initially only allowed for Bitcoin trading but quickly began adding cryptocurrencies that fit its decentralized criteria.Its list expanded to include Ethereum, Litecoin, Bitcoin Cash, XRP, and many others with the promise of more as long as its requirements are met.
Coinbase Global had $223 billion in assets on its platform by the end of March. Those assets are owned by 56 million verified users across 100 different countries. Crypto traders don’t tend to be the “buy and hold” type. A whopping $335 billion in trades went through Coinbase in this year’s first quarter. The sheer volume of trading from Coinbase platform is impressive. It is the top dog in a trading niche, generating juicy margins on a trading volume.
Coinbase has played a major role in making these digital currencies accessible to the general public. Since its price is closely linked to that of Bitcoin, the company is likely to recover eventually. Once the selling frenzy subsides, investors will see the stock price rise.