Analyst: Coinbase’s third-quarter results predict its future as a “crypto super app”

Alyssa Choo, cryptocurrency stock expert at Bitwise, said Coinbase’s subscription and services revenue in the third quarter was $334 million, surpassing trading revenue for the second consecutive quarter - the subscription and services business line includes revenue generated from stablecoins and custody fees, and blockchain reward and interest income. “People think Coinbase is a commission-based business, but that’s very short-sighted,” Choo said. “Commission revenue is the bridge to the true future of Coinbase, which is a crypto super app—the center of gravity of the crypto world with a variety of Monetization pathways, including Base, stablecoins, etc. And we saw these other capabilities flourish this quarter." (Blockworks)