By launching the subscription service, Coinbase is seeking to expand its global reach.
American crypto exchange Coinbase is bracing up to roll out its subscription service – Coinbase One. According to a Thursday announcement, the zero trading fee subscription service will start out in Germany, Ireland, and the United Kingdom. However, there are plans to extend the rollout to at least 32 other countries within the shortest time possible. A company statement reads:
“Coinbase One is rolling out to full availability in the coming months, and we plan to expand to additional markets internationally.”
Coinbase One, which has been in testing in the US since 2021, allows subscribers to pay a monthly fee of $29.99. With the subscription, users may trade for free throughout the month and also get amplified staking rewards.
Furthermore, subscribers will have exclusive access to industry insights and analytics from Messari and CoinTracker. And in addition to that, the subscription will also offer US members pre-filled tax return documents – Form 8949. That is, users do not have to go through the hassle of filing crypto taxes. Instead, they’ll enjoy the benefit of having their transactions organized automatically.
Coinbase also confirms that its new subscription service will give members round-the-clock access to its support team. That is, at any time of any day, members who need any form of assistance will get prompt help.
It might also be worth noting that Coinbase still has other plans to make the lives of subscribers much easier. Per its announcement, the exchange is also eyeing potential partnerships with the likes of Alto IRA (Individual Retirement Account) and Blockworks’ Permissionless and Lemonade.
Coinbase One to Boost Exchange’s Global Reach
For what it’s worth, the launch of the subscription service is part of Coinbase’s efforts to expand its global reach. And with plans to offer the service in at least 35 countries, the exchange is looking to further deepen its roots across the globe.
It might be interesting to note that this launch comes after CEO Brian Armstrong recently suggested that Coinbase might be moving out of the United States. At the time, Armstrong cited regulatory uncertainty in the country as the reason behind the company’s consideration. However, the CEO has since changed his earlier position, confirming that the exchange will no longer exit the US.
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