Coinbase Expands Payments Strategy with Utopia Labs Acquisition, Eyes More Purchases

Coinbase is stepping up its game in the digital payments world. They’re looking to make more acquisitions to boost their revenue.

This month, the leading U.S. crypto exchange acquired the team from a payments startup called Utopia Labs. This move is a big part of their strategy to expand.

Shan Aggarwal, the vice president of corporate and business development at Coinbase, shared some insights. He mentioned that the company is open to buying more businesses related to payments. They want to enhance their capabilities in this space.

In an interview, Aggarwal also talked about a potential change. Coinbase is considering charging fees for certain payment services in the Coinbase Wallet. This could include subscription options for specific features.

Overall, Coinbase is focused on growing its payments business and making it more robust. They’re taking significant steps to achieve that goal.