# Coinbase

> Source: https://docs.barcoder.ai/docs/wallets/coinbase
> research date 2026-05-29 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Coinbase — official](https://www.coinbase.com/)

## Overview

**Coinbase** is **the largest US-based cryptocurrency exchange + first publicly listed major crypto exchange** <sup>[1][1], [2][2], [crypto-cro]</sup>. **2025 baseline**: **108M+ customers (some sources cite 120M+ total monthly users)** + **60-65% US crypto exchange trading volume + 6.9% global cryptocurrency exchange market share + 6th largest exchange worldwide**.

**Distinctive Coinbase positioning** <sup>[1][1], [3][3]</sup>:
- **Largest US-based cryptocurrency exchange**
- **108M+ customers** as of 2025
- **60-65% US crypto exchange trading volume** — distinctive US market dominance
- **First publicly listed major crypto exchange** — NASDAQ direct listing April 14, 2021
- **6.9% global market share** — 6th largest exchange worldwide (behind Binance 38%)
- **Strong regulatory positioning** — extensive US regulatory engagement (SEC + CFTC + FinCEN + NYDFS BitLicense)

## History

**June 2012 — Coinbase founded** by **Brian Armstrong + Fred Ehrsam** in San Francisco.

**2012-2020 — Mass US + global retail crypto adoption** <sup>[2][2]</sup>: Coinbase becomes US's largest crypto exchange.

**April 14, 2021 — Coinbase NASDAQ direct listing** (NASDAQ: COIN) — distinctive first publicly listed major crypto exchange.

**2023 — Coinbase wins partial SEC lawsuit dismissal** — distinctive US crypto regulation milestone.

**2024 — Coinbase + SEC settlement movement** under new Trump administration.

**2025 — 108M+ customers (some sources 120M+ monthly users) + 60-65% US crypto exchange trading volume + 6.9% global market share** <sup>[1][1]</sup>.

## Ownership & operator

**Operating entity**: **Coinbase Global Inc.** (NASDAQ: COIN).

**Major shareholders**: **Brian Armstrong (founder; majority class B shares + voting control) + Andreessen Horowitz + Union Square Ventures + various institutional + NASDAQ public float**.

**Regulators**: **SEC (Securities and Exchange Commission)** + **CFTC (Commodity Futures Trading Commission)** + **FinCEN (Financial Crimes Enforcement Network)** + **NYDFS (New York Department of Financial Services; BitLicense)** + per-jurisdiction.

## Technical integration

| Layer | Description |
|---|---|
| **Channels** | Coinbase app (iOS + Android; primary mobile channel) + Coinbase.com web exchange + Coinbase Wallet (separate Web3 self-custody wallet) + Coinbase Card (Visa debit) |
| **Identifiers** | Email + phone + KYC documents (per AML requirements) |
| **License** | Crypto exchange (US's largest; NASDAQ-listed since Apr 14 2021; SEC + CFTC + FinCEN + NYDFS BitLicense + per-jurisdiction) |
| **Products** | Coinbase Spot Trading + Coinbase Advanced Trade (formerly Coinbase Pro) + Coinbase Derivatives (Coinbase Derivatives Exchange; CFTC-regulated) + Coinbase Custody + Coinbase Prime (institutional) + Coinbase Earn (staking + learn-to-earn) + Coinbase Wallet (Web3 self-custody) + Coinbase Card (Visa debit) + Base (Coinbase's own L2 blockchain on Ethereum) + Coinbase Commerce (merchant crypto payments) + Coinbase Custody International |
| **Distinctive Base L2 blockchain**: Coinbase's own L2 blockchain on Ethereum (major DeFi ecosystem) |

## Users & growth

**2025 baseline** <sup>[1][1]</sup>:
- **108M+ customers** (some sources cite 120M+ total monthly users)
- **60-65% US crypto exchange trading volume**
- **6.9% global cryptocurrency exchange market share** — 6th largest worldwide
- **NASDAQ-listed** since April 14, 2021

## Use cases

US + global crypto spot + advanced + derivatives trading + Coinbase Custody (institutional + retail) + Coinbase Prime (institutional) + Coinbase Earn (staking + learn-to-earn) + Coinbase Wallet (Web3 self-custody) + Coinbase Card (Visa debit) + Base (Coinbase's own L2 blockchain on Ethereum) + Coinbase Commerce (merchant crypto payments).

## Implementations & partners

**Operator**: **Coinbase Global Inc.** (NASDAQ: COIN).

**Major shareholders**: **Brian Armstrong (founder; majority class B shares + voting control) + Andreessen Horowitz + Union Square Ventures + institutional + NASDAQ public float**.

**Major crypto exchange competitors**:
- **[Binance](https://docs.barcoder.ai/docs/wallets/binance)** (Binance; world's largest crypto exchange by trading volume; 300M+ users; 41.1% global spot in Jun 2025; CZ-founded; restricted in US)
- **[Kraken](https://docs.barcoder.ai/docs/wallets/kraken)** (Kraken Financial; US-registered; 13M+ registered users + 5.2M funded accounts Q3 2025; Federal Reserve master account approved Mar 2026)
- **Gemini** (US crypto exchange; Winklevoss twins)
- **OKX** + **Bybit** + **Bitget** + **MEXC** + **HTX (formerly Huobi)** + **KuCoin** + **Gate.io** + **Crypto.com** (other major centralized crypto exchanges)
- **Uniswap + PancakeSwap + dYdX + GMX** (decentralized exchanges)
- **[OKX Wallet](https://docs.barcoder.ai/docs/wallets/okx-wallet)** (Batch 27 covered; OKX major Web3 wallet)
- **[Exodus](https://docs.barcoder.ai/docs/wallets/exodus)** (Batch 27 covered; non-custodial multi-chain wallet)

**Base L2 blockchain**: Coinbase's own L2 blockchain on Ethereum (major DeFi ecosystem).

**Regulators**: **SEC + CFTC + FinCEN + NYDFS BitLicense + per-jurisdiction**.

## Fun facts

- **Largest US-based cryptocurrency exchange** — 108M+ customers + 60-65% US crypto exchange trading volume.
- **First publicly listed major crypto exchange** — NASDAQ direct listing April 14, 2021 (NASDAQ: COIN).
- **June 2012 founding** by Brian Armstrong + Fred Ehrsam in San Francisco.
- **6.9% global cryptocurrency exchange market share** — 6th largest worldwide (behind Binance 38%).
- **Base L2 blockchain** — Coinbase's own L2 blockchain on Ethereum (major DeFi ecosystem).
- **Brian Armstrong (founder) majority class B shares + voting control**.
- **2023 partial SEC lawsuit dismissal** — distinctive US crypto regulation milestone.
- **NYDFS BitLicense + extensive US regulatory engagement** — distinctive regulatory positioning.
- **Coinbase Custody (institutional + retail) + Coinbase Prime + Coinbase Wallet (Web3 self-custody) + Coinbase Card (Visa debit) + Coinbase Earn (staking + learn-to-earn) + Coinbase Commerce (merchant crypto payments)**.

## Comparison

| Feature | Coinbase | [Binance](https://docs.barcoder.ai/docs/wallets/binance) (World's largest crypto exchange by trading volume rival; 300M+ users) | [Kraken](https://docs.barcoder.ai/docs/wallets/kraken) (US-registered crypto exchange rival; Federal Reserve master account Mar 2026) | [OKX Wallet](https://docs.barcoder.ai/docs/wallets/okx-wallet) (Batch 27; major Web3 wallet comparable) | [Exodus](https://docs.barcoder.ai/docs/wallets/exodus) (Batch 27; non-custodial wallet comparable) |
|---|---|---|---|---|---|
| Operator | **Coinbase Global Inc. (NASDAQ: COIN; Brian Armstrong founder + majority class B + voting control + Andreessen Horowitz + Union Square Ventures + institutional + NASDAQ float)** | Binance Holdings Ltd. (private; multi-jurisdiction; Changpeng Zhao "CZ" founder + majority shareholder; CZ stepped down Nov 2023; Richard Teng CEO) | Kraken (Payward Inc.; private; US-registered) | OKX (private; Seychelles-headquartered) | Exodus Movement Inc. (NYSE American: EXOD) |
| Type | **US's largest crypto exchange + 108M+ customers + 60-65% US crypto exchange trading volume + 6.9% global market share + 6th largest worldwide + NASDAQ-listed since Apr 14 2021 (first publicly listed major crypto exchange) + Base L2 blockchain** | World's largest crypto exchange by trading volume (41.1% global spot in Jun 2025) + 300M+ users + $34T 2025 annual trading volume + BNB Chain | US-registered crypto exchange + Federal Reserve master account approved Mar 2026 | Major Web3 wallet + centralized exchange | Non-custodial multi-chain wallet |
| Country | US + global | Global (UAE base; restricted in US) | US + UK + CA + global | Global (Seychelles base) | Global |
| Users | **108M+ customers (120M+ monthly some sources); 60-65% US crypto exchange trading volume; 6.9% global market share; NASDAQ-listed** | 300M+ users (Dec 2025); $34T 2025 trading volume; 41.1% global spot Jun 2025 | 13M+ registered users + 5.2M funded accounts Q3 2025; $561.9B Q3 2025 trading volume; $648M Q3 2025 revenue (+114% YoY) | Major Web3 wallet | Multi-million users |
| Distinctive | **Jun 2012 founding by Brian Armstrong + Fred Ehrsam in San Francisco; Apr 14 2021 NASDAQ direct listing (first publicly listed major crypto exchange; NASDAQ: COIN); 60-65% US crypto exchange trading volume; 6th largest worldwide; Base L2 blockchain on Ethereum (Coinbase's own; major DeFi ecosystem); 2023 partial SEC lawsuit dismissal; Coinbase Custody + Coinbase Prime + Coinbase Wallet (Web3 self-custody) + Coinbase Card + Coinbase Earn + Coinbase Commerce + Coinbase Derivatives (CFTC-regulated)** | Jul 2017 CZ-founded in China; 2017 moved out of China; 2019 Binance.US separate US entity; Nov 2023 CZ stepped down + $4.3B US AML settlement; 2025 ADGM FSRA full authorization + 29 global certifications | Federal Reserve master account approved Mar 2026 distinctive (one of first crypto-native firms with direct access to Fed payment rails); Kraken Securities commission-free trading 11,000+ US-listed stocks and ETFs phased rollout from Apr 2025 | Web3 wallet major | Non-custodial multi-chain |

## Status

**Active, largest US-based cryptocurrency exchange + first publicly listed major crypto exchange** <sup>[1][1], [2][2]</sup>:
- **Coinbase Global Inc.** (NASDAQ: COIN) since June 2012 (founded by Brian Armstrong + Fred Ehrsam in San Francisco); NASDAQ direct listing April 14, 2021.
- **108M+ customers** + **60-65% US crypto exchange trading volume + 6.9% global market share** (6th worldwide).
- **Base L2 blockchain** Coinbase's own L2 blockchain on Ethereum (major DeFi ecosystem).
- **SEC + CFTC + FinCEN + NYDFS BitLicense + per-jurisdiction regulated**.

## Sources

[1]: https://en.wikipedia.org/wiki/Coinbase "Coinbase — Wikipedia"
[2]: https://www.coinbase.com/ "Coinbase — official"
[3]: https://www.demandsage.com/coinbase-users-statistics/ "Coinbase Users Statistics 2026 Worldwide Data — DemandSage"
[4]: https://coinlaw.io/coinbase-users-statistics/ "Coinbase Users Statistics 2026 What the Numbers Reveal About Adoption & Growth — CoinLaw"

- [1] [Coinbase — Wikipedia][1]
- [2] [Coinbase — official][2]
- [3] [Coinbase Users Statistics 2026 Worldwide Data — DemandSage][3]
- [4] [Coinbase Users Statistics 2026 — CoinLaw][4]
- [crypto-cro] In-corpus: `reports/countries/CRYPTO-global.md`

## Source

Biography extracted from [coinbase.md](https://docs.barcoder.ai/source/wallets/coinbase). See `matrix.md` for standards-support matrix if present.