Amazon Web Services debuted more than 20 years ago. The subsidiary of Amazon is currently the firm’s major profit maker. AWS made $13.5 billion in annual operating earnings in 2020 on a revenue base of $45.3 billion. That’s roughly 63% of the parent company’s total.
Coinbase wants to be the next Amazon of crypto
Meanwhile, Coinbase officials believe that they need to become the “Amazon of cryptocurrencies” as soon as possible. Most of the company’s awards are due to its great direct listing in history. As of this moment, Coinbase’s income stream is reliant on transaction fees.
According to Chatterjee, the acquisition of Bisons Trails was a major step in the transition of Coinbase into a more seasoned financial system. The exchange supports crypto custodians, funds, decentralized apps, and token holders. Some of its customers are Andreessen Horowitz (a16z), New York-based fintech firm Current, and Turner Sports.
As of November 2021, Coinbase Cloud has $30 billion in crypto assets staked on its platform. Meanwhile, the Coinbase cryptocurrency exchange has over 73 million customers, 10,000 organizations, and 185,000 ecosystem partners in over 100 countries. According to Coinbase, the exchange has handled transactions worth over $700 billion since its founding.