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Coinbase Lists on Nasdaq, Expands Marqeta Partnership on Base

1 report, 1 independent Updated Oct 19
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

Coinbase listed on Nasdaq and expanded its partnership with Marqeta, allowing businesses to offer cards funded by stablecoin balances. Coinbase will handle the custody, dollar conversion, and settlement of these payments on its Base blockchain. For the second quarter, Coinbase reported revenue of $1.22 billion, down from $1.50 billion a year earlier, and a loss of $359.5 million.

From insidermonkey.com

Why it matters

Some supportBrind's analysis of the reports

The partnership with Marqeta shows Coinbase is shifting toward becoming financial infrastructure, rather than solely a trading platform. While consumer transaction revenue fell 31% in the second quarter, institutional transaction revenue rose 65%.

From insidermonkey.com

Who's involved

  • CoinbaseAmerican company operating a cryptocurrency exchange platform
  • MarqetaFintech company expanding payment services with Coinbase
  • NasdaqAmerican stock exchange where Coinbase is listed
  • BaseProprietary Layer-2 blockchain infrastructure used by Coinbase

Who could feel it

Possible knock-on effects

These are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.

  • MarqetaSpeculative

    Marqeta could see increased revenue from expanding payment services with Coinbase.

  • EthereumSpeculative

    Ethereum might see increased demand for Layer 1 security due to higher settlement volume on Base.

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The entities involved

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Coverage

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