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Coinbase Global, Inc. COIN Stablecoin revenue — Revenue

Other product segments

Consumer, net
$566.9M-48.3%
Institutional, net
$135.73M+37.3%
Other subscription and services revenue
$109.43M-22.3%
Blockchain rewards
$100.85M-48.7%
Other transaction revenue
$53.2M-21.6%

Similar metrics at other companies

BitGo Holdings logo
BTGOStablecoin-as-a-Service revenue — Revenue
$38.16M+953,825%
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BTGOStaking revenue — Revenue
$49.4M-66.2%
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SBETRevenue From Staking
$11.5M—
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GEMIStaking revenue — Total net revenue from contracts with customers
$2.14M-31.2%
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BTGOWallet Solutions And Staking — Revenue
$2.2M-72.5%
Bakkt logo
BKKTCrypto services revenue — Revenue
$243.59M-77.1%

Other financials

Income statement

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Revenue$1.4B-30.5%
Operating income-$21.4M-103%
Net income-$394.1M-701%
EPS (diluted)-$1.49-721%

Balance sheet

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Cash & equivalents$10.2B-23.3%
Total debt$6.5B+50.5%
Total equity$13.5B+28.8%
Total assets$28.8B+32.8%

Cash flow

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Operating cash flow$182.7M-78.6%
CapEx$154.0K+2,467%
Free cash flow$313.8M+179%

Valuation

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Market cap$37.55B-52.2%
Enterprise value$33.85B-51.3%
P/E24.5×-1.1×
P/S5.7×-5.6×

Profitability

See full
Operating margin10.8%-21.6pp
Net margin41.9%+12.2pp
FCF margin6.6%—

Returns & leverage

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Return on equity26%+4.7pp
Debt / equity0.5×+0.1×
Current ratio2.1×-0.4×

Where this comes from

Reported directly by Coinbase Global, Inc. in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Coinbase Global, Inc.’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Coinbase Global, Inc.'s stablecoin revenue — revenue?
Coinbase Global, Inc. (COIN) reported stablecoin revenue — revenue of $305.44M in Q1 2026.
How has Coinbase Global, Inc.'s stablecoin revenue — revenue changed year-over-year?
Coinbase Global, Inc.'s stablecoin revenue — revenue increased by 11.5% year-over-year, from $274.04M to $305.44M.
What is the long-term trend for Coinbase Global, Inc.'s stablecoin revenue — revenue?
Over 3 years (2021 to 2025), Coinbase Global, Inc.'s stablecoin revenue — revenue has grown at a 411.9% compound annual growth rate (CAGR), from $9.88M to $1.33B.
What does stablecoin revenue — revenue mean?
This metric represents the revenue generated from stablecoin-related activities, primarily through interest income earned on fiat reserves backing stablecoins and service fees associated with their circulation. It reflects the company's role in the stablecoin ecosystem by capturing the economic benefit of facilitating liquidity and providing custodial services for these digital assets. This revenue stream is highly sensitive to the total market capitalization of supported stablecoins and prevailing interest rate environments.