Why Kraken and other exchanges what he will subscribe?

After years of depending largely on commercial rates, encryption exchanges seem to be experimenting with subscription models in a possible change towards more predictable commercial models.

Encryption exchanges are no longer just places to buy and sell cryptocurrencies. As the negotiation volume remains volatile, sometimes swinging in a matter of hours, platforms such as Kraken and Coinbase are resorting to subscription models for more stable income.

Over the years, cryptography merchants have seen exchanges launch a wide range of services, from decentralized platforms and rethinking products to nft markets, loan characteristics and pairs tools. But most of them depend on users deciding to trade with impulse, which makes it difficult to precede income.

Instead of trusting only in transaction rates, exchanges are now exploring ways to create more stable income and offer a more consistent experience. Pauline Shangett, Marketing Director of ChangeHe said in an interview with crypto.news that similar exchanges and services “need less sources of income and need stable and predictable.”

“When all income depends on market billing, which may fall dramatically based on news and circumstances, it complicates financial and strategic planning. For example, not all exchanges survived beyond the 'cryptographic winters' because they had expanded their staff and aggressively marketing budgets without creating a financial security network.”

Pauline Shanget

Shangett said that the subscription models and services whose demand does not depend directly on the market phase “allows companies to plan better for the future, participate in long -term projects with less risk and, ultimately, provide a higher level of service to their customers.”

“Changenow and now Wallet also offer subscription options that provide more favorable terms, special offers and access to additional services. For example, our subscribers can make AML checks for free to verify their own addresses and their counterparts for any suspicious funds. In general, yes, this model is beneficial for both exchange and their customers.”

Pauline Shanget

'Designed to offer real value'

Kraken is the last to join the trend, presenting Kraken+, a premium membership that offers zero rates negotiation and augmented rewards for $ 4.99 per month. According to a Press releaseKraken+ allows users to change up to $ 10,000 per month without fees in instant purchases through their main application. Subscribers also gain up to 4% of APR in USDG held with the exchange.

In an interview with crypto.News, Mark Greenberg, Kraken global consumer head, said that Kraken +'s launch was a “direct response to what we have heard of our clients.”

“People want more utility of the platforms they trust. More ways to participate, save and grow their holdings, without jumping through the hoops. We build Kraken+ to reward that confidence. For a small monthly rate, customers obtain significant daily benefits such as trade without faith and stable performance of the stable, all in a unique experience and transmission.

Mark Greenberg

Technically speaking, Kraken follows the steps of Coinbase, which launched a similar product in 2023. Coinbase one offers trade without rates, priority support and other advantages, although at a significantly higher price of price than $ 29.99 per month. A premium version, Coinbase One Premium, adds negotiation of unlimited zero rates, 25% return in advanced coinbase spot rates and improved improvements, all for $ 299.99 per month.

Profitable business

While it may be too early to measure long -term profitability, Coinbase had previously reported a strong impulse. In his February Shareholder letterThe company said its subscription and services revenues reached $ 2.3 billion in 2024, 64% more after year and more than four times higher than during the 2021 bull race.

“Coinbase One subscribers grew in each 2024 quarter as we expand the benefits of the geographical account and availability throughout the year, which accelerated with the impulse of the market in the fourth quarter. Retention remains high, since subscribers tend to deepen their participation in our platform on our product platform.”

Coinbase

Coinbase said that by the end of 2024, the number of subscribers of Coinbase One even exceeded 600,000, 50% more than the first quarter of 2024, partially fed by an increase of the year in cryptography markets that pushed bitcoin beyond $ 90,000. Greenberg told crypto.news that Kraken expects “a strong adoption” of his latest product and plans to expand it even more in the future.

“It is not just what is included in the launch, but how we continue to evolve it based on customer comments. Our goal is to make Kraken+ the most rewarding way to interact with long -term crypto.”

Mark Greenberg

As competition between exchanges is heated, subscription products could represent a more sustainable way forward. It remains to be seen if these programs will offer a lasting value for users and platforms. Even so, Greenberg frames subscriptions as a matter of trust, saying that Kraken aims to build a platform “with which people want to stay not only for a product, but for long -term trip.”