Coinbase eyes long-term growth of subscription revenue, NFTs still a focus
Coinbase CEO Brian Armstrong says the exchange has been building subscription revenue streams for three years and will continue to do so into the long term. American cryptocurrency exchange Coinbase aims to grow revenue from subscriptions in the long term to combat potential profit margin compression. The firm’s founder and CEO Brian Armstrong delved into the long-term prospects of the American cryptocurrency exchange in a wide-ranging interview with CNBC’s Crypto World on Aug. 23. A key talking point was the potential of lower revenues from fees in the future and how the company plans to preempt this possibility. Armstrong highlighted his belief that profit margin compression was bound to occur in the future as more exchanges and competitors launch similar products and services which could compete for market share: “This is why we’re investing today in so much subscription and services revenue and we’re realizing that trading fees will still be a major part of our business in 10 or 2...
