This article comes fromThe Block, original author: Yogita Khatri
Odaily Translator |
Summary:
This article comes from
, original author: Yogita Khatri
Odaily Translator |
Summary:In an interview with CNBCCoinbase CEO Brian Armstrong expects the company's non-trading business to grow significantly in the long run.
Businesses such as custody, staking and debit cards could account for 50% or more of Coinbase's future revenue, Armstrong said.
Coinbase CEO Brian Armstrong expects Coinbase's non-trading business to grow significantly over the long term.
Armstrong Wednesday (April 14) at
In an interview with CNBC
Businesses such as Coinbase Earn, debit cards, staking, and institutional custody could account for 50% or more in the next five or ten years, according to Cointelegraph.
Currently, Coinbase's exchange business is its main source of income. Transaction fees accounted for 86% of Coinbase's total revenue last year.
Armstrong said Coinbase has yet to see any profit shrinkage, and he doesn’t expect that to happen anytime soon. "I don't expect a fee (revenue) drawdown in the short and medium term, but in the longer term, I do think there's likely to be some drawdown, just like every other asset class."
To that end, Coinbase has begun to focus on non-trading revenue streams, Armstrong said, anticipating that they will provide stable and predictable revenue going forward.
Coinbase will list on Nasdaq today. In response, Armstrong said he hopes the company’s direct listing will be seen as a milestone moment in the crypto space, “which is creating a lot of value in the world.”Armstrong further stated that investing in Bitcoin and Coinbase stock could be a good bet, as both are "good ideas."As for what investors should think of Coinbase, Armstrong said, “You can think of us as the first vertically integrated fintech company.”
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