Coinbase's Super App Aims to Replace Traditional Banking with Crypto

Coinbase Global, Inc. (NASDAQ: COIN) has unveiled a strategic initiative to transform its platform into a comprehensive crypto-driven financial services super app, leveraging recent acquisitions and product launches to expand its market reach and diversify revenue streams. The company announced the acquisition of Deribit, a leading crypto derivatives exchange, for $2.9 billion in May 2025, a deal finalized in AugustCoinbase - Deribit Joins Coinbase: Unlocking the Future of Global Crypto Derivatives^[1]. This acquisition positions Coinbase as a dominant player in global crypto derivatives, with Deribit contributing over $185 billion in July 2025 trading volume and $60 billion in open interestCoinbase Completes Deribit Acquisition | The Coin Republic^[2]. By integrating Deribit’s advanced options trading capabilities, Coinbase aims to offer a unified platform for spot, futures, perpetuals, and options, enhancing liquidity and accessibility for institutional and advanced tradersCoinbase acquires crypto derivatives exchange Deribit for $2.9 billion | CNBC^[3].

Central to Coinbase’s super app vision is the rebranded , previously known as Coinbase Wallet, which consolidates wallet, trading, payments, and social networking functionalities. Launched in July 2025, Base operates on Coinbase’s Ethereum-based blockchain, enabling fast, low-cost transactions powered by USDC stablecoinsCoinbase's new super app Base: summary and review | Fortune^[4]. The app targets both crypto enthusiasts and non-crypto users, with features like Base Pay—a one-click checkout system for USDC payments, developed in partnership with ShopifyCoinbase steps into consumer market with stablecoin-powered everything app | CNBC^[5]. Coinbase also introduced Base Account, an identity verification system to streamline onboarding and enhance user experienceDeribit to Join Coinbase: A New Chapter in Global Crypto Derivatives^[6]. The app’s integration of decentralized finance (DeFi) protocols, such as Morpho for USDC lending, allows users to earn yields up to 10.8%Coinbase Launches 4% Bitcoin Cashback Card | Yahoo Finance^[7].

Coinbase’s subscription-driven strategy is underscored by the launch of the , a credit card offering up to 4% Bitcoin cashback on purchases. Available to U.S.-based Coinbase One subscribers, the card, powered by American Express, marks a shift toward recurring revenue. The Basic tier of Coinbase One, priced at $4.99/month, provides zero trading fees on up to $500/month and 4.5% APY on USDC holdingsCoinbase One Card Offers 4% Bitcoin Rewards to U.S. Users | Airdrops^[8]. CEO Brian Armstrong emphasized the card’s role in challenging traditional banking by reducing transaction fees and offering Bitcoin rewards, aligning with Coinbase’s broader mission to replace outdated financial systemsCoinbase CEO sets sights on replacing banks with crypto super app | Cointelegraph^[9]. The company reported $698.1 million in subscription and services revenue for Q1 2025, highlighting the growing importance of this segmentCoinbase's new super app Base: summary and review | Fortune^[10].

Regulatory clarity in the U.S., including the passage of the GENIUS Act and ongoing legislative efforts, has accelerated Coinbase’s expansion. The company is also exploring U.S. perpetual futures contracts, with discussions underway with the Commodity Futures Trading Commission (CFTC) to introduce institutional-grade productsCoinbase Launches 4% Bitcoin Cashback Card | Yahoo Finance^[11]. Partnerships with major corporations, such as JPMorgan’s Base blockchain deposit token and Shopify’s USDC payment integration, further solidify Coinbase’s position in mainstream financeCoinbase Completes Deribit Acquisition | The Coin Republic^[12]. Analysts project that addressing user concerns over credit limits and Bitcoin’s deflationary nature will be critical to the success of these initiativesCoinbase Card Offers Bitcoin Cashback to U.S. Users | The Currency Analytics^[13].

Coinbase’s super app strategy faces challenges, including user adoption hurdles and competition from fintech and crypto rivals. However, the company’s focus on integrating blockchain technology with everyday financial services—such as AI agents, social networks, and cross-border payments—positions it to capture a broader audience. With over 1 million Coinbase One subscribers and a growing ecosystem of products, Coinbase aims to redefine its role from a trading platform to a primary financial account for millions of usersCoinbase steps into consumer market with stablecoin-powered everything app | CNBC^[14].