Coinbase has recently published a Q2 21 shareholder letter, which reveals, among other things, that financial institutions are increasing interest in this cryptocurrency exchange platform.
The fact that Coinbase is no longer used only by ordinary traders is also confirmed by financial indicators, which have recorded record success in Q2 2021 so far.
Let's first mention the most important of them, the Trading Volume, which increased by up to 1550% to $462B compared to Q2’20 when it was at the level of $26B. In terms of Net revenue in this case, it was also a respectable increase from $178M measured in Q2’20 to $2,033M in Q2’21, an increase of 1042%.
As far as financial institutions are concerned, Coinbase has revealed that it currently registers more than 9000 such entities that actively use their platform. Based on this, they have also developed several important themes for institutional business.