The U.S.-based crypto exchange Coinbase has launched its subscription service with zero trading fee, Coinbase One, expanding it to other countries in addition to the U.S. The service was initially made available to users in the U.K., Germany, and Ireland for a monthly fee of $29.99. - The firm plans to eventually put Coinbase One in service across 35 countries in total in the upcoming months.
- The service had been in beta testing since 2021 before the launch.
- Coinbase One offers exclusive features to subscribers, including zero-fee trading, higher staking rewards, and several benefits through partnerships with other firms from the crypto industry.
- The Coinbase One partners include Messari, CoinTracker, Blockworks' Permissionless, Lemonade, and Alto Individual Retirement Account (IRA).
- The subscribers will also be able to access a 24/7 dedicated support team that provides assistance through phone or prompts in case of any technical issues.
- Also, the service will offer pre-filled tax return documents to users in the U.S. by automatically organizing their transactions to simplify the process of crypto tax filing.
- Coinbase had to intensify its global expansion plans, mainly after its legal conflict with the Securities and Exchange Commission (SEC) in its native U.S.
- The SEC claims that the platform could violate securities laws through its exchange and staking services, while the popular crypto exchange complains about the lack of regulatory clarity in the U.S. that it holds the agency responsible for.
- The company also recently launched a new Bermuda-based international derivatives exchange for institutional crypto traders outside the U.S. Its executive team visited the United Arab Emirates (UAE) for strategic development in the region, and it diversified its crypto offerings in Singapore.
- However, during the earnings call for Q1, Coinbase CEO Brian Armstrong said the firm is still fully committed to the U.S. despite the regulatory uncertainty.
|
