Coinbase CEO Teases Launch of Debit Card in the U.S.

Coinbase CEO Brian Armstrong has announced that the company is working on introducing its debit card to customers in the U.S. Armstrong’s announcement came in a live AMA session on YouTube on May 16, 2019, during which he fielded questions and touched on various topics such as community trust ratings for altcoins and fraud prevention. While he did confirm that the debit card is coming to U.S. customers, he didn’t divulge a specific release date. Last month, Coinbase launched the Coinbase Card, a Visa-based debit card which, according to the…

Coinbase Rolls Out Trading in USDC Stablecoin to 85 Countries

Cryptocurrency exchange Coinbase is expanding trading in the dollar-pegged stablecoin USD Coin (USDC) to 85 nations worldwide. In a blog post Tuesday, the firm said it now offers crypto-to-crypto trading for USDC in those countries on both its retail site Coinbase.com and its Coinbase Pro service. The firm touted the strengths of the token in the post, saying it offers a stable store of value and can be sent “near-instantly” around the globe. “Unlike other cryptocurrencies, each USDC is backed by $1 USD with monthly transparency audits showing 100% USD backing,” Coinbase said. USDC…

Coinbase Opens Up XRP Trading for New York Residents

Cryptocurrency exchange Coinbase has launched trading support for XRP for New York state residents. The San Francisco-based firm tweeted the news Monday, saying that New Yorkers can now buy, sell, convert, send, receive or store XRP on Coinbase.com or via its iOS and Android mobile apps. After the announcement, the price of XRP jumped over 20 percent to reach a high of $0.39, according to data from CoinMarketCap. However, the surge also coincides with bullish moves from bitcoin in the last 24 hours. Coinbase initially added XRP support for its…

Coinbase Closes Chicago Office and Scales Down Work on Matching Engine

Major United States-based cryptocurrency exchange Coinbase shut down its Chicago office and scaled down the development of its matching engine, Fortune reports on April 23. Per the report, the exchange will consolidate the high-frequency trading matching engine efforts into its San Francisco office. Coinbase also purportedly laid off about 30 employees and will relocate some to the area of the other office, while others will work remotely. According to local news site Chicago Inno, when the company announced the opening of the Chicago office in May last year, it planned…

Coinbase Shutters High-Speed Crypto Trading Division, Axing 30 Jobs

Cryptocurrency exchange Coinbase is shutting down the Chicago office it opened a year ago, eliminating 30 engineering jobs. The San Francisco-based startup’s Chicago division, known as Coinbase Markets, was dedicated to creating sophisticated electronic markets technologies such as matching engines and high-frequency trading for cryptocurrency.   Coinbase said a year on, it had made the difficult decision to consolidate the matching engine work being done in Chicago with similar work being done by its team in San Francisco. A Coinbase spokesperson told CoinDesk: “To become the ‘Google of crypto’ we…

Tennis Star Serena Williams Reveals Investment in Coinbase

Serena Williams, one of the world’s most successful tennis players of all time, has revealed in an Instagram post that she is an investor in cryptocurrency exchange Coinbase. Williams took to the social media platform late last week to announce her VC firm Serena Ventures – which was secretly founded in 2014 – and listing some of its investments, including Coinbase and startups in areas such as fitness, clothing, food and women’s health and community.   Williams said in the post: “In 2014, (yes I know I can keep a secret) I…

Coinbase Provides Wider Support for Crypto-to-Crypto Conversions

Crypto exchange platform Coinbase has announced that it will be expanding its crypto-to-crypto trading service to more countries. In the announcement, Coinbase explains that cryptocurrencies are in a transition period, which will see them move from being investment options to utilities. According to the exchange, the enablement of crypto-to-crypto conversions will serve as “the backbone of this new decentralized economy.” The new feature will be available to Coinbase.com and Coinbase Pro users in 11 additional nations within Southeast Asia and Latin America. These countries include New Zealand, Peru, Mexico, South…

Coinbase Generated $520 Million in Revenue Last Year, Reuters Estimates

Cryptocurrency exchange Coinbase brought in almost $520 million in global revenue in 2018, according to an estimate from Reuters. The news source based the figure on the exchange’s U.K. revenue, which grew 20 percent last year to 153 million euros ($173 million), according to a filing with the U.K.’s corporate registry. The British side of the business accounts for “almost a third” of the firm’s overall revenue, Coinbase U.K. CEO Zeeshan Feroz told Reuters. The filing further shows that Coinbase U.K. made a net profit of 6.6 million euros ($7.4 million)…

Coinbase Exec Dan Romero Leaving Crypto Exchange After 5 Years

Cryptocurrency exchange Coinbase is losing another executive. Dan Romero, who works as vice president for Coinbase’s international business, announced in a Medium post on Friday that he will be leaving the firm at the end of this month. Romero joined Coinbase in April 2014, according to his LinkedIn profile. While he didn’t provide a specific reason for departing the firm, Romero said: “Staying true to a mission often requires doing hard (or even unpopular) things. But I’ve been lucky to learn first-hand that it’s those hard things that often generate…

Coinbase Introduces Debit Card Linked to Cryptocurrency Balances for…

Major U.S.-based crypto platform Coinbase has launched the Coinbase Card, a debit card that lets U.K. customers make purchases online and in-store using cryptocurrency. The new card will link the customers’ crypto balances held on the Coinbase platform with their debit cards — converting crypto holdings into fiat currencies to complete each transaction. The Coinbase card gives users the ability to make payments via “contactless, Chip and PIN, as well as cash withdrawals from ATMs,” an official press release from the exchange states. The debit cards will be issued by…