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<p class="is-style-lead">Coinbase launches its subscription service, Coinbase One, in 35 countries, signaling a shift in its revenue model amidst ongoing legal disputes with the U.S. Securities and Exchange Commission.</p>



<p><a href="https://crypto.news/coinbases-q1-revenue-jumps-22-to-736m-from-q4/" data-type="URL" data-id="https://crypto.news/coinbases-q1-revenue-jumps-22-to-736m-from-q4/" target="_blank" rel="noreferrer noopener">Coinbase</a> has announced the launch of Coinbase One, a new subscription service, in 35 countries worldwide, including the United States, United Kingdom, Germany, and Ireland. The initial roll-out is slated to expand to 31 more countries in the near future, though a specific timeline remains unclear.</p>



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<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="und" dir="ltr">1/ <a href="https://t.co/yi84eItEbq" target="_blank">pic.twitter.com/yi84eItEbq</a></p>&mdash; Coinbase 🛡️ (@coinbase) <a href="https://twitter.com/coinbase/status/1659230865480642560?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 18, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>The shift towards a subscription-based model comes in the wake of challenges faced by Coinbase in sustaining <a href="https://crypto.news/coinbase-debuts-feeless-usdc-trading-in-singapore/" target="_blank" data-type="URL" data-id="https://crypto.news/coinbase-debuts-feeless-usdc-trading-in-singapore/" rel="noreferrer noopener">trading fees</a>, which traditionally formed a significant chunk of the company&#8217;s revenue. </p>



<p>However, the firm seems to be faring well in the new direction, with subscriptions and service revenue clocking in at $362 million, marking a 28% quarter-over-quarter increase from the last quarter of 2022, as revealed in their early May <a href="https://investor.coinbase.com/financials/quarterly-results/default.aspx" target="_blank" data-type="URL" data-id="https://investor.coinbase.com/financials/quarterly-results/default.aspx" rel="noreferrer noopener">earnings report</a>.</p>



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<p>Portfolio co-manager of Amplify Transformational Data Sharing ETF (BLOK), Dan Weiskopf, praised the strategic shift, noting that the company&#8217;s ability to balance its business lines underscores the potential momentum behind what the firm is aiming to build.</p>



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<p>However, amidst the new business strides, Coinbase also navigates turbulent waters with the U.S. Securities and Exchange Commission (<a href="https://crypto.news/us-sec-delays-ratification-of-digital-assets-definition/" data-type="URL" data-id="https://crypto.news/us-sec-delays-ratification-of-digital-assets-definition/">SEC</a>). Earlier this year, the SEC issued a Wells notice to Coinbase. In response, a court ordered the SEC to answer Coinbase’s petition. </p>



<p>The SEC responded by noting the recency of Coinbase&#8217;s filing and supplementing the record, leaving the issue under <a href="https://crypto.news/lawyer-john-deaton-knocks-sec-after-coinbase-rejection/" data-type="URL" data-id="https://crypto.news/lawyer-john-deaton-knocks-sec-after-coinbase-rejection/">ongoing legal scrutiny</a>.</p>



<p>The launch of Coinbase One presents a significant strategic move in Coinbase&#8217;s business model amidst evolving revenue streams and regulatory landscapes.</p>



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Coinbase One launches amid regulatory challenges

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