Mashable article In December of last year, bitcoin exchange Coinbase made a big splash with the launch of its $500 million Bitcoin Exchange Fund.
But that wasn’t the end of the story, as the company soon expanded its operations by adding another major component into its business: Bitcoin payment services.
Now, the company is looking to take on another major player in the cryptocurrency space.
According to CNBC, a source close to the company told the news outlet that it is seeking to launch its first bitcoin payment service.
The company will be launching its first “Bitcoin Service” in 2018, according to the source, who added that the company would be able to grow to over $1 billion in sales per year.
Bitcoin payments could be the next big thing for the company, which is already one of the largest online payment providers.
In October, Coinbase announced that it would add “the ability to accept bitcoin as payment for goods and services” to its platform, which will help it provide a convenient way for consumers to shop for goods.
Coinbase is already known for offering a number of bitcoin-focused services, including the Bitcoin ATM, which lets consumers take out cash for bitcoin.
That service has since been discontinued, but Coinbase will continue to add new bitcoin payment services to its site as the year progresses.
While the company has a number, it is likely that Coinbase’s service will not compete with PayPal, Visa, MasterCard, or any other major online payment provider.
As a result, Coinbase will likely be able offer its service to more consumers, who will be able use the platform to pay for purchases, as well as send money back to customers who make purchases.