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Coinbase CFO: Consider NFT as a new revenue stream

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Currently, 94% of Coinbase's revenue comes from trading commissions for bitcoin and other cryptocurrencies.

Coinbase is looking at NFT as an opportunity for a new revenue source as it seeks to diversify from transaction fees, Chief Financial Officer Alesia Haas said on April 15, ahead of the company's IPO.

Haas did not elaborate on when Coinbase would offer NFT-related services. Currently, 94% of Coinbase's revenue comes from trading commissions for bitcoin and other cryptocurrencies.

In February, Coinbase revealed that it held about $230 million worth of bitcoin, $53 million worth of Ethereum and $34 million worth of so-called copycats. Haas said Coinbase must be careful to provide adequate cash for working capital and reserve requirements, but its current policy allows it to invest 10 percent of its remaining cash in crypto assets. She added that the company is considering adjusting that policy to allow Coinbase to hold more crypto assets.