Coinbase Cloud wanting to be the “AWS of Crypto,” Amasses $30 Billion in Staked Assets

2021-12-4 23:00

Cryptocurrency exchange Coinbase has more than $30 billion worth of crypto assets staked on its platform on the 60,000 hosted nodes across over 30 blockchains, including Ethereum 2.0, which is yet to be fully launched as well as Tezos (XTZ) and Cosmos Hub (ATOM), as of November 2021.

“By empowering current and future builders of the crypto-economy,” Coinbase Cloud will “help accelerate the Web3 evolution. This is where the world of software is going, and we’re excited to lead the herd,” said Aaron Henshaw, the division’s head of engineering, in a blog post this week.

Henshaw is the co-founder of non-custodial platform Bison Trial, the hosted infrastructure company acquired by Coinbase in January this year for over $80 million, which is the core of Coinbase Cloud.

While Coinbase Cloud hosts this growing amount of staked crypto, the firm does not custody these assets. Compared to Coinbase’s custodial staking service charging a 25% commission, Coinbase Could take an 8% cut of staking rewards.

Coinbase has been looking to make Coinbase Cloud the Amazon Web Services of cryptocurrency by providing the blockchain infrastructure. AWS is the $1.8 trillion subsidiary of the e-commerce giant.

“We want to be the AWS of crypto,” said Coinbase chief product officer Surojit Chatterjee in an interview.

“We are building this whole Coinbase Cloud suite of products that you can think of as crypto computing services, to help developers build their applications faster.”

The success of Coinbase Cloud means “crypto is gaining mainstream appeal,” said the company noting the overall crypto market cap has reached $3 trillion this year while over $250 billion are locked in decentralized finance (DeFi).

“A growing number of the world’s largest companies are looking to integrate crypto into their applications.”

“Recently, we’ve seen Stripe, Square, Reddit, the NBA, and others introducing crypto into their product lines with no signs of this trend slowing down. They all have one thing in common: a need for infrastructure and tools to operate and participate in the ecosystem.”

The post Coinbase Cloud wanting to be the “AWS of Crypto,” Amasses Billion in Staked Assets first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

crypto coinbase billion staked assets amasses cloud

crypto coinbase → Результатов: 126


Plus Wallet: The Preferred Crypto Wallet in the U.S. & UK—Insights on Bitcoin Prices & Coinbase’s Latest News

The crypto scene has been buzzing with significant updates. Bitcoin’s price has been on a rollercoaster, causing $285 million in liquidations for traders. At the same time, Coinbase is gearing up to discontinue its Paycheck Direct Deposit service, sparking concerns among users about potential disruptions to their ongoing crypto investments.

2024-10-21 00:30


SEC Counters Coinbase’s Petition For New Crypto Regulations

The US Securities and Exchange Commission (SEC) has filed a countermotion against Coinbase’s rulemaking petition for the crypto industry. In a brief submitted on May 10, the US regulator argues against Coinbase’s request stating there is no need for creating a regulatory framework for crypto assets in place of existing US securities laws. Related Reading: […]

2024-5-12 10:38


Looking To Build Your Own Crypto Startup? Here Are The Top 10 Ideas From Coinbase’s CEO

As the crypto market heads toward another Bitcoin halving expected to trigger a bull market, crypto founders are gearing up to start launching their startups in a more profitable climate. If you are one of these startup founders interested in crypto, Coinbase CEO Brian Armstrong has outlined 10 ideas that would lead to profitable businesses. […]

2023-9-1 02:00


Bitcoin, Solana community calls out Coinbase CEO on crypto payment vision

The vision for a future where crypto payments are instant, accessible, and global has ignited a spirited debate among industry leaders on the path toward achieving this goal. As reported by Brian Armstrong, CEO of Coinbase, the crypto industry, including Coinbase, focuses on integrating layer 2 solutions, better on-ramps, and simpler user experiences to bring […] The post Bitcoin, Solana community calls out Coinbase CEO on crypto payment vision appeared first on CryptoSlate.

2023-7-28 20:00


Coinbase CEO says crypto will heal, take 15% of global GDP 

Coinbase founder and CEO Brian Armstrong dismissed the current pessimistic approaches to the market and said crypto would take 15% of global GDP in 20 years.  Speaking at Coinbase’s Q1 earnings call, Armstrong said: “In my mind, this  [crypto] is a little bit like the early days of the Internet, where you saw the birth […] The post Coinbase CEO says crypto will heal, take 15% of global GDP  appeared first on CryptoSlate.

2022-5-14 02:30