Coinbase Launches A Zero-Fee Subscription Service In The US
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Coinbase, the largest cryptocurrency exchange in the United States, has launched a zero-fee subscription service known as Coinbase One. This service allows traders to trade cryptocurrencies at no fee while also receiving high staking rewards.
Coinbase Launches A Subscription Service In The US
Coinbase One is a service that will cost $29.99 per month. The service is also open for users based in the United States, and it will also be available to those in Germany, Ireland, and the United Kingdom.
Coinbase published a blog post on the matter, saying that frequent traders on Coinbase One would access opportunities to execute more trades using multiple financial assets. The tool will also be useful to long-term traders because it will allow them to make the most out of the cryptocurrency sector.
“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 crypto economy and all that Coinbase has to offer,” Coinbase said.
Coinbase has also announced plans to expand the Coinbase One service and make it available in many countries over the coming months. It will expand these services using an “international expansion strategy.” However, the exchange has not mentioned these countries, but there are reports that it could expand to 35 countries.
The exchange added that the feature would support both active and long-term investors and allow them access to the best of the crypto market. The service will allow them to save, earn and get the most out of their crypto investments.
Coinbase faces regulatory scrutiny
Coinbase is a publicly-listed cryptocurrency exchange in the United States. The exchange is popular in the country, but it is also facing regulatory scrutiny. It obtained a Wells Notice from the US Securities and Exchange Commission (SEC). It is also expecting an enforcement action. Coinbase has also filed a lawsuit against the SEC over its failure to clarify the decision-making process around cryptocurrencies.
The CEO of Coinbase, Brian Armstrong, has said that the crypto regulatory framework in the US is harsh, and the exchange might consider moving its operations offshore. Additionally, the exchange received a license from Bermuda to enable it to launch an international crypto derivatives exchange.
The exchange also reported a strong financial outlook for the first quarter of 2023. During the quarter, the losses dropped significantly to $79 million. The total revenue posted by the group also came in at $773 million, which surpassed market expectations.
