According to the latest Q2 data, financial institutions prefer Coinbase.
Coinbase just released its Q2 21 shareholder letter, which reveals, among other things, that financial institutions are becoming more interested in the cryptocurrency exchange platform.
Financial statistics, which have experienced record success in Q2 2021, confirm that Coinbase is no longer employed only by amateur traders.
Let’s start with the most crucial one: Trading Volume, which surged by up to 1550 percent to $462 billion in Q2 of this year compared to $26 billion in Q2 of last year. In terms of net revenue, it was likewise a significant gain from $178 million in Q2’20 to $2,033 million in Q2’21, a 1042 percent increase.
Coinbase has indicated that it presently registers over 9000 of them as active users of their platform in terms of financial institutions. They’ve also come up with a few key concepts for institutional business based on this.