Coinbase Posts Record Revenues in Q2 2021

Coinbase, a California based digital asset exchange operator, issued its financial results for Q2 2021 which shows a record increase in trading volume and revenue.

The latest results shows that Coinbase achieved a retail transaction revenue of $1.8 billion, 26% higher compared to the first quarter of 2021. The company's institutional transaction revenue reached $102.4 million, up 20% compared to Q1.

​Wanna be the Next Cover Person of Fazzaco Magazine?​

The company also witnessed a significant jump in trading activity during the second quarter of this year. Its trading volume in Q2 was $462 billion,  registering an increase of 38% compared to Q1. Total retail trading volume was $145 billion, an increase of 21% compared to Q1. Institutional trading volume was $317 billion, increasing by 47% compared to Q1.

In addition, Coinbase also witnessed strong growth in the total cryptocurrency assets on the company's platform. As of June 30, 2021, assets on platform totaled $180 billion. Crypto assets on the platform represented 11.2% of the total market capitalization of crypto assets. Despite price movements, the company saw billions of dollars of net asset inflows and new customers added throughout Q2.

Fazzaco reported that last week Coinbase announced that it has enabled customers to buy crypto with with linked debit cards to Apple Pay and Google Pay​, and instant cashouts up to $100,000 per transaction available 24/7.