Coinbase's rocky performance underlines need for diversification

What to read today: The Payments Ecosystem: Payments are set to break physical and digital borders in 2022, connecting the world in more ways than ever. Innovations will lower barriers for payments across countries and continents, and the rise of super apps will bring all of consumers' financial needs—including payments—into a single place. Meanwhile, innovations in lending will extend credit to once-inaccessible segments..

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March 5, 2022 Coinbase's quarterly volatility highlights rationale for diversification Crypto exchange giant Coinbase finished 2021 with a strong Q4 performance across its user-related metrics. Trading volume was $547 billion, up about 67% quarter over quarter (QoQ), when it was $327 billion, and soaring by around 515% year over year (YoY), when it was $89 billion. So far, Coinbase's year-end momentum isn't carrying over into 2022, per the company's Q1 outlook. Declining crypto market capitalization (20%) and lower volatility (10%) is pinching the exchange. Coinbase's choppy QoQ performance underscores the need to further diversify and expand its offerings beyond routine crypto trading while it waits for regulators to clear the way for mainstream crypto adoption. Insider Intelligence's Tom Auchterlonie has the full story. BRIEFING HIGHLIGHTS Bank of America will launch all-in-one app to attract new generation of investors Bank of America will roll all of its product lines into one app that is slated to roll out in December, according to American Banker. Read More → Payments industry reacts to Russia's invasion of Ukraine and international sanctions Visa and Mastercard blocked multiple Russian financial institutions (FIs) from their networks to comply with government sanctions imposed after Russia invaded Ukraine, per Reuters. Read More → Tribal Credit taps Visa to help scale payment solutions across Latin America Visa partnered with US-based small-business payments provider Tribal Credit to help expand credit lines, improve card distribution, and update security measures and encryption for Tribal Credit's business cardholders across Latin America, per Reuters. Read More → Block finishes up 2021 strong, plans to bolster growth with Afterpay Block's gross payments volume (GPV) jumped 45% year over year (YoY) and hit $46.3 billion, per its shareholder letter. Read More → Worldline sets its sights on Japan's increasingly cashless market Payment processor and paytech Worldline will expand its business in Japan through a partnership with local payment service provider Vesca in early 2022, per a press release. Read More → Regulatory overhaul for nonbanks may be on the horizon as calls for change grow M&T Bank CEO René Jones urged industry watchdogs to hold alternative lenders to the same regulatory standards as traditional banks in a letter to shareholders. Read More → Klarna reports major gains—and losses—for 2021 as it refines its growth strategy Sweden-based buy now, pay later (BNPL) firm Klarna reported a 42% year-over-year (YoY) increase in gross merchandise volume (GMV) for 2021. Read More → Credit unions should anticipate attrition without better technology Customer satisfaction among credit union members in the US declined more than 2 percentage points last year to 86.3%, per a report by PYMNTS and PSCU. Read More → Walmart enhances 'branches' by reviving US-Mexico fund transfers Walmart will revive the remittance product it retired in 2018 so customers can send money from stores in the US to locations in Mexico. Read More → RESEARCH IN FOCUS The Payments Ecosystem Payments are set to break physical and digital borders in 2022, connecting the world in more ways than ever. Innovations will lower barriers for payments across countries and continents, and the rise of super apps will bring all of consumers' financial needs—including payments—into a single place. Meanwhile, innovations in lending will extend credit to once-inaccessible segments. Get the full report → Insider Intelligence's Banking Trends to Watch in 2022 The pandemic accelerated payments industry digitization across the entire landscape, as merchants turned to ecommerce to keep doors open, consumers eschewed cash in favor of electronic and contactless payments, and payments technology providers rapidly developed and launched new solutions to keep up. Get the full report → Insider Intelligence's Payments Trends to Watch in 2022 Payments are set to break physical and digital borders in 2022, connecting the world in more ways than ever. Innovations will lower barriers for payments across countries and continents, and the rise of super apps will bring all of consumers' financial needs—including payments—into a single place. Meanwhile, innovations in lending will extend credit to once-inaccessible segments. Get the full report → BECOME A SUBSCRIBER Did you know the Daily is just a preview of everything Insider Intelligence has to offer? Our subscriptions deliver analysis on the biggest trends and decisions shaping the future of your industry. Stay on top and subscribe today to receive: Research reports Daily email briefings Forecasts and charts Get Started Today → FOLLOW US Email sent to: nguyenvu1187.love5@blogger.com Manage your email preferences  |  Unsubscribe  |  Terms of Use  |  Privacy Policy © 2022 Insider Intelligence. 11 Times Square, 14th FL, New York, NY 10036