Giant Leap for Coinbase: Nears the Customers at Fidelity Investments
The number of customers has been increasing day by day for Coinbase. At present, it is handling over 20 million customer accounts, which is equal to Fidelity investments and twice as many as the as customers of Charles Schwab as reported by the Washington Post.
As evident from last week’s report, Coinbase has reported the launch of various custodial tools and software for investors like hedge funds. Hence, Coinbase is bridging the gap between the entire vertical of investor types, from usual retail customers to large hedge funds.
Much of Coinbase’s growth comes from steady leadership principles that CEO Brian Armstrong has put in place. He has been open and honest on his blog about the issues he has faced in running the company.
CEO Brian Armstrong says:
“Focusing on people is arguably the highest leverage activity to spend time on as CEO, since great people build great products, which leads to great profits (in that order).”
What’s more, since software is at the center of Coinbase’s business, Armstrong has standards for technology that are paying off. While different new businesses go by the rule of “ship fast, break things,” which has of late frequented Facebook, Coinbase focuses on building software that performs key assignments with solidness and scale.
The spike in cryptocurrency enthusiasm for late 2017, and in this manner the surging record enlistments and exchange volume, put these standards under serious scrutiny with strains on Coinbase’s infrastructure.
Armstrong highlighted the most recent work of Tina Bhatnagar, Vice President of Operations and Technology, for making a move to help expanded request. A May 18 blog traced the work finished over the previous 90 days. It stated that they expanded their support team by more than 150 %. Reduced their average time for the first reaction to < 10 hours for 95% of the incoming volume today. On account of these measures, they can resolve issues faster and have diminished the backlog by 95%
To concrete Armstrong’s endeavours for hiring and holding great employees, Coinbase made the list of the Bay Area’s with the best work environment.
Armstrong hasn’t shunned the responsibilities of correcting the course despite facing criticism for being slow in listing new coins and tokens, having difficulties in keeping the platform online during periods of market instability and charges of insider trading with the launch of bitcoin cash on the platform.
The company’s success also comes from handling the intricacy of US trading and banking regulations. Rumour is that the crypto exchange is in talks with controllers to apply for a federal banking license. Coinbase may look for a national saving money contract, which would appropriate state-level budgetary controls.
The result of the organization’s endeavors is that the crypto exchange has solidified the authenticity of itself as well as the blockchain business in general.