On December 2nd, Coinbase officially announced the launch of an online store on Shopify.
Currently, Coinbase Shop is focused on providing a range of peripheral products. It also supports cryptocurrency payments such as USDC, BTC, ETH…
According to Brian Armstrong, the challenges of using cryptocurrencies for payments have driven Coinbase to create Coinbase Shop.
However, Coinbase Shop is just one of the supportive projects for Coinbase’s expanded product offerings. In the latter half of this year, the company introduced various strategic services to reduce dependence on transaction fees and ensure revenue generation in challenging market conditions.
These products, collectively referred to as “subscriptions and services,” include stablecoin revenue, blockchain rewards, interest income, and customer fees, all proven to be profitable investments.
In addition to Coinbase Shop, the Coinbase Cloud blockchain infrastructure platform has also introduced a new feature called “Coinbase Verifications.” Leveraging the Ethereum Attestation Service (EAS) open standard, Coinbase Verifications provides a public and composable solution, allowing users to integrate Sybil-resistance into various applications, from airdrops and missions to social apps and gaming platforms.
Since its initial public offering in 2021, Coinbase has faced many challenges. However, recently, the company’s stock has increased significantly, rising nearly 300% since the beginning of the year.