As part of its goal to scale with proper controls, Coinbase Global (NASDAQ:COIN) said on Tuesday that it is focusing on achieving greater operational efficiency.
“We’ve been digging in to identify the set of changes we need to make to help us succeed at this new scale,” Coinbase Global CEO Brain Armstrong wrote in a blog post.
These changes include giving product managers visibility into their profit/loss balance and leveraging shared services to reduce duplication.
Another step to effectively scaling the business is to organize teams into so-called pods of fewer than ten workers, Armstrong noted, adding that smaller units are more efficient.
Overall, “we need to empower our leaders to make decisions, and our teams to deliver great products to customers. It won’t be easy, and we’ll need to keep adjusting,” Armstrong concluded. “But we got this far, and I’m confident that if we make smart decisions now, it will only be the beginning.”
Armstrong’s comments come as Coinbase cut its workforce by 18% in mid-June to better manage costs following a downturn in the crypto market, otherwise known as “crypto winter.”
Coinbase Prices Is Now Coinbase Explore
Coinbase Global recently updated Coinbase Prices and rebranded it as Coinbase Explore to provide users with a single platform to research the entire crypto economy
Cryptoeconomics goes far beyond buying and selling assets. But as more and more people do more with their crypto – earn, loan, collect NFTs, build communities, etc. – they need accurate and actionable information to make sound decisions. Unfortunately, getting this information today is too complicated and time-consuming. That’s where Coinbase Explore comes in.
Coinbase Explore provides users with detailed research on crypto assets. This platform covers much more than asset prices. It is a comprehensive, easy-to-use and searchable platform that allows users to research all aspects of the crypto economy in one place.
Coinbase Explore will provide them across all existing and emerging categories of the crypto economy while providing high-quality pricing data for all existing crypto assets.
Over the next few quarters, Coinbase Explore will include data on DeFi protocols, NFT collections, and more.
Coinbase Global Is Looking to Expand in the European Market
The cryptocurrency exchange is looking to expand in France, Italy, Spain and many other countries on the continent. Europe is just one more step for Coinbase Global, as it has proven to be one of the highest quality platforms in the world.
Europe represents a significant opportunity for the company as it is one of the largest bull markets in the world. Coinbase Global wants to invest in this market because it knows people will look to them as their first choice for an exchange. In a statement, the vice president of Business Development Nana Murugesan and VP of International Policy Tom Duff Gordon said how they see Coinbase operating.
They wrote, “At Coinbase, our mission is to promote economic freedom, and we believe the best way to do that is by increasing crypto adoption worldwide. That is why international expansion is fundamentally mission-aligned and continues to be a company priority”.
With the Markets in Crypto Assets Regulation (MiCA) establishing the most comprehensive framework for the crypto market in 27 countries across Europe, the potential for Coinbase will be huge as it brings certainty to the crypto market that has been overlooked by many entities in the past.
Coinbase Global has millions of users worldwide, but it wants to keep gaining new users by expanding its reach. Asia has many crypto users, but it has its own exchanges.
The company started in North America, but with the move to Europe with MiCA, we should expect Asia to follow.
Featured Image: Depositphotos @Piter2121
