Coinbase’s Trading Volume Grew 8.5 Times in 2021 — With 89 Million Verified Users

The Nasdaq-listed cryptocurrency alternate Coinbase says the variety of month-to-month transacting customers on its platform rose to 11.4 million on the finish of 2021, which was greater than 4 instances the earlier 12 months. In addition, Coinbase’s buying and selling quantity grew greater than 8.5 instances from the earlier 12 months, and the variety of verified customers has risen to 89 million.

A Good Year for Coinbase

The Nasdaq-listed crypto alternate Coinbase launched its fourth-quarter and full-year 2021 earnings report Thursday.

“2021 was a 12 months of large progress and improvement within the cryptoeconomy, in addition to for Coinbase. We ended 2021 with robust efficiency throughout our key metrics that have been inside our outlook,” the corporate wrote, including:

We ended the 12 months with 11.4 million Monthly Transacting Users (MTUs).

Coinbase famous that the variety of MTUs on the finish of 2021 was “over 4x in comparison with 2020.” In addition, the variety of verified customers on its platform has grown to 89 million.

During the 12 months, Coinbase expanded its enterprise various methods, together with including the “buying and selling and custody assist for 95 and 72 new crypto property, respectively.” The firm additionally “greater than doubled the variety of international locations the place customers can purchase and promote crypto by way of fiat rails to 90+, and added Apple Pay, Google Pay, and Paypal as cost strategies.”

Moreover, Coinbase mentioned:

In 2021, our buying and selling quantity grew greater than 8.5x in comparison with 2020, and our market share of buying and selling quantity elevated in just about all property.

The Nasdaq-listed crypto alternate additionally grew its institutional buyer base by over 50% final 12 months. “On the institutional facet, a serious theme all through 2021 was adoption by a broader vary of purchasers searching for to have interaction with crypto — past asset managers and monetary companies companies to company treasuries and institutional allocators,” the corporate famous, elaborating:

In 2021, we generated $3.6 billion in web earnings, up 11x in comparison with 2020.

What do you consider Coinbase’s 2021 efficiency? Let us know within the feedback part beneath.