One of the largest cryptocurrency exchanges, Coinbase, recently experiencing unprecedented growth in our customer base. Today, the exchange manages 20 million customer accounts, which is almost equal to the number of accounts in the company Fidelity Investments and twice the base of the company Charles Schwab.
Among the customers of Coinbase all types of investors – from retail clients to large hedge funds. Recently the exchange launched several new software tools and custodian for institutional investors.
Its growth Coinbase owes much to the sustainable management principles established by the founder of the exchange Brian Armstrong. In his blog, he openly shared the challenges it faces in the management of the company.
«Focus on people is undoubtedly the main lever activities, which have to spend time Director of the company, because great people create great projects that bring the most profit (in that order),» he writes.
In the process of management of the company Armstrong uses his principles of the use of technology that work well. According to Coinbase, it is important to create software that will be stable and scale to fulfill key business objectives.
The meteoric rise of interest in bitcoin in 2017 and an associated increase in the number of registrations of accounts and transaction volumes allowed the Coinbase to experience these principles in their infrastructure.
Despite criticism over the slow pace of listing new coins, the difficulty associated with maintaining the platform’s work online during market volatility, as well as allegations of insider trading at the time of launch on the platform Bitcoin cash, Armstrong is not going to go with the selected course.
The success of the company is also subject to a complex trade and banking regulation. It was recently reported that Coinbase intends to apply for obtaining a banking license. The end result Coinbase can become a national Bank Charter, based on the state of financial regulation.