Coinbase CEO Brian Armstrong has launched Coinbase Shop, a ** store on Shopify that offers a variety of cryptocurrency-related products.
The company's strategic diversification efforts over the past two and a half years have included a range of products beyond transaction fees.
Coinbase Cloud introduced "Coinbase Authentication", which uses EAS to enhance security by allowing blockchain-based verification of user credentials.
The e-commerce business focuses on offering a range of Coinbase peripherals. Armstrong highlighted that the general challenges of leveraging cryptocurrency payments prompted the creation of Coinbase Shop.
After entering the shipping details, users can immediately be taken to the payment page, where they can choose to use Coinbase Commerce for transactions using USDC, BTC, ETH, and more.
Coinbase Shop is just one of the latest additions to Coinbase's ever-expanding product line. In the second half of last year, the company strategically launched a variety of products aimed at reducing reliance on transaction fees and ensuring revenue generation in challenging market conditions. These products are collectively referred to as "subscriptions and services" and include stablecoin revenue, blockchain rewards, interest income, and customer fees, all of which have proven to be lucrative investments.
In addition to its features, Coinbase Cloud, a well-known blockchain infrastructure platform, recently launched a feature called "Coinbase Verification." Leveraging the Ethereum Proof of Service (EAS) open standard, Coinbase Verifications provides a public and composable solution that allows users to integrate Sybil Resistance into a variety of applications, from airdrops and quests to social apps and gaming platforms.
Since its IPO in 2021, Coinbase has faced challenges. Recently, the company** has risen nearly 300% year-to-date.