Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam as a cryptocurrency exchange.
Armstrong, a former Airbnb engineer, and Ehrsam, a former Goldman Sachs trader, created Coinbase to make buying and storing digital assets easier for mainstream users. The company initially focused on Bitcoin and provided a more accessible interface than the technical tools many early cryptocurrency users relied on.
Coinbase participated in the early development of the cryptocurrency industry by offering brokerage, wallet, and exchange services. Its business expanded as additional cryptocurrencies and institutional services were introduced. The company became one of the most visible United States-based cryptocurrency firms.
Coinbase is sometimes used as a generic label for cryptocurrency trading, but it is a specific company and platform. Kraken, Bitstamp, and Gemini are separate exchanges with different founders, corporate histories, and product offerings. Coinbase became a publicly traded company on Nasdaq in April 2021 through a direct listing.