Coinbase is set to introduce Coinbase Business, a platform designed for startups and SMEs to facilitate payments, manage crypto assets, and automate financial processes. Upon launch, businesses will benefit from a no-fee self-service application with quick approvals within two days.

New features for enterprises

Coinbase aims to simplify the adoption of cryptocurrency by addressing challenges faced by small businesses such as difficulties in hiring global talent, high credit card fees, interest rates, and chargebacks. Cryptocurrency can offer fast, low-cost, and global money transfers, enabling smoother operations.

Offering integrated tools for trading and portfolio management, Coinbase Business allows business owners to buy, sell, and exchange crypto from their accounts. In the near future, multi-user access will be available, allowing team members to manage the account while maintaining control over financial workflows.

The platform supports instant settlements, enabling SMEs to accept customer payments in crypto and make payments to vendors, employees, and partners without delays or chargebacks. Businesses can also integrate Coinbase into their existing technology stack using APIs, funding their wallet or cashing out revenue directly into their bank accounts.

Coinbase Business provides competitive APY on USDC holdings, allowing businesses to earn up to 4.1%. This feature ensures funds remain liquid while offering flexibility for use. The platform streamlines the onboarding process with no application fees or sales calls, and easy sign-up procedures. Additionally, Coinbase is incorporating accounting reconciliation features through partnerships with Quickbooks and Xero via Cointracker and CryptoTaxCalculator.