Coinbase One subscription service makes its debut in Europe

The pioneer of the exchange of crypto launched Coinbase One in several countries d’Europe. Sound subscription service allows in particular not to no longer pay from trading costs.

Unveiled in late 2021 and launched in the United States last year, Coinbase One is landing on the European continent. On Thursday evening, the California-based crypto exchange announced the rollout of the service in United Kingdomin Germany and in Ireland.

In addition to no trading fees and a dedicated support team, Coinbase One members now enjoy increased staking rewards and exclusive benefits from partners such as Messari and CoinTracker,” a statement said, noting that 24-hour phone support is available.

Priced at 29.99 dollars (about 28 euros) per month, Coinbase One is offered for free for 30 days. The service is expected to be rolled out in other European countries, including France, in the coming months.

While the income of Coinbase historically come from trading fees and are thus highly dependent on the activity on the crypto market, the exchange wishes to diversify them with One in order to stimulate its growth.

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Year-over-year and in the first quarter of 2023, Coinbase’s revenue from its subscription service more than doubled from $150 million (Q1 2022) to $360 million.

Coinbase now also wants to reduce its dependence on American market as local regulators raise their game with the crypto giants. Recently, the Brian Armstrong-led firm received a warning from the SEC. Earlier this month, it opened a new platform in Bermuda.

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