ChainCatcher news, former RippleNet General Manager Asheesh Birla tweeted that Coinbase is transitioning from a cryptocurrency exchange to a bank service that supports cryptocurrencies.Coinbase's latest mission is to build a crypto economy: a more equitable, convenient, efficient, and transparent financial system supported by cryptocurrencies. According to its Q1 2023 financial report, deposit revenue generated from interest income, blockchain rewards, and custody fees now accounts for the largest share of Coinbase's revenue. Interest from USDC deposits alone generated $199 million, accounting for about 18% of Coinbase's total revenue.Coinbase's revenue is slowly shifting from consumers to high-margin institutional clients, with institutional trading revenue growing by 67% compared to the previous quarter. Coinbase also benefits from bank-like revenue, which is less dependent on the overall crypto market. (source link)