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The statistics highlight Coinbase’s Revenue Breakdown Worldwide, split between revenue from the US and revenue from rest of the world, reported on a quarterly basis from Q1 2016 onwards.
Coinbase’s Revenue Breakdown Worldwide
In the first quarter of 2023, revenue from the US accounted for 11% of the total revenue generated by Coinbase and revenue earned from rest of the world has contributed the most in the aggregate revenue accounting for 89% of the total revenue in the same quarter. Revenue from the US has been growing over the quarters while revenue from rest of the world has been fluctuating over the quarters. There has been an increase in the revenue generated from the US from 2022 Q3 to 2022 Q4. The revenue generated from the rest of the world has declined from 2022 Q3 to 2022 Q4. While the revenue from the US and rest of the world has increased from 2022 Q4 to 2023 Q1.
|Region||2022 Q3||2022 Q4||2023 Q1||Revenue mix in 2023 Q1|
|Rest of the World||8,83,76,000.0||6,96,93,000.0||8,57,60,000.0||11%|
A significant portion of Coinbase’s overall revenue comes from transaction fees, which customers incur while buying, selling, and trading crypto assets on the platform. These fees can be either a fixed amount or a percentage of the transaction value. Additionally, for their consumer trading product, they apply a spread to guarantee settlements at the quoted price for customers. Another substantial revenue source for the company is subscriptions and services, which have experienced notable growth, largely driven by the increasing interest income from USDC (USD Coin) transactions.
The United States
The company engages in fierce competition within the US, mainly against other crypto-focused firms, although certain traditional financial players do provide more restricted solutions. Within its institutional business, it manages the Coinbase Spot Market, vying for market share against numerous crypto exchanges. Additionally, Coinbase spot market faces competition from decentralized exchanges, which have gained significant popularity in recent times.
Our total revenue is substantially dependent on the prices of crypto assets and volume of transactions conducted on our platform.
The company’s net revenue is focused on specific areas. In terms of transaction revenue and subscription and services revenue, a significant portion comes from transactions involving Bitcoin and Ethereum, and interest income linked to USDC, respectively. The company’s customer base is spread across more than 100 countries, with the largest concentration in the United States, accounting for approximately 40% of customers, followed by the UK/Europe with around 25%.
Rest of The World
On a global scale, Coinbase faces competition from crypto-native companies, some of which primarily operate in international markets with comparatively less regulatory oversight. As a result, these competitors offer different product portfolios, including a broader selection of crypto assets and product experiences, such as high leverage financing options, catering to sophisticated traders.
Coinbase has made consistent investments in strengthening the foundational trust of its business. This involves the implementation and expansion of advanced cryptographic techniques like multi-party computation (MPC) to enhance the security of user funds. Simultaneously, the company maintains active and constructive engagement with regulatory bodies and governmental agencies worldwide.
Coinbase Global, Inc., also known as Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Established in 2012, Coinbase focuses on creating secure, reliable, and user-friendly technology and financial infrastructure solutions. These products and services empower individuals and businesses worldwide, allowing them to explore, conduct transactions, and interact with various crypto assets and decentralized applications.
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