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    Thursday, November 4, 2021

    Coinbase Tests Commission-Free Subscription Trading Service


    Coinbase Global Inc. is testing a subscription service that lets customers trade on the biggest U.S. cryptocurrency exchange without paying fees for each trade.

    Customers will still pay so-called spread fees on cryptocurrency sales and purchases made through the service. Currently, Coinbase customers pay a commission and spread fee. Any subscriber costs weren’t disclosed.

    “We’re always looking to learn more about how we can best serve our customers in different ways,” Coinbase said in the statement Wednesday. “Right now we are still in early stages so everything about the future product experience will be shaped by the feedback we receive from our users.”

    The trading platform is experimenting with its fee structure amid growing pressure from companies such as Robinhood Markets Inc., which are not charging trading fees and gaining users quickly. Crypto now represents more than half of Robinhood’s transaction revenue.

    The subscription service test was first reported by the Block. © Bloomberg L.P.

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