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This Thursday, Coinbase announced it is launching its premium service—Coinbase One—to more than 30 countries. The initial launch will see the platform available in the US, UK, Ireland, and Germany, but an expansion to a total of 35 nations with a focus on the European market is soon to follow.
Coinbase Announces Launch of Coinbase One
In a blog post published on May 18th, the cryptocurrency exchange Coinbase announced the launch of its premium platform in several European counties and the United States. Coinbase One will initially be available in the UK, Germany, Ireland, and the US for $29.99 per month.
The company also stated that this is only an initial phase and the platform is currently planned to launch in 35 different countries with a focus on the European markets. Two main features of Coinbase One are its lowered commission for staking ADA, ATOM, SOL, and XTZ and zero trading fees.
Additionally, Coinbase One users will have access to a support team at any hour and US-based customers will get a pre-filled tax Form 8949 to help report their cryptocurrency trading activity to the IRS.
Coinbase One also offers a 30-day trial. The company also stated that subscribers will, until May 25th, be able to mind a limited-edition Founding Member NFT.
Coinbase’s Recent International Expansion
In recent months, Coinbase has made multiple exciting announcements as part of its ongoing expansion. The February launch of its layer-2 solution, Base, in partnership with Optimism, took the cryptocurrency community by storm and sparked hopes that it could truly onboard more than 110 million Coinbase users to DeFi.
More recently. the cryptocurrency exchange has made particular efforts to focus on international markets. In mid-April, it designated the UK as a potential cryptocurrency hub. Additionally, at the beginning of May, it launched a Bermuda-based perpetual derivatives exchange geared toward institutional investors.
A likely reason for Coinbase’s focus on the international markets is the current regulatory climate in the US, as well as the exchange’s own likely fight with the SEC. Soon after receiving a Well’s notice, the company even reportedly considered moving its headquarters out of the United States, though the idea has, seemingly, been dropped since.
Are you planning to get a Coinbase One subscription? Let us know in the comments below.