Blockchain.com, a popular digital wallet provider, is now planning to launch a cryptocurrency exchange service in the U. S.
The announcement was made through a post on the U. K. based company’s website. It explained that the widely popular service provider would be starting its new operations by offering a Bitcoin selling service in the country through its platform. The company then plans to add a Bitcoin buying service before adding support for multiple currencies in the future.
Speaking to CNBC, Blockchain’s CEO Peter Smith explained that the company is not looking for short-term benefits but wants to ensure that it starts by taking simple steps.
“If we are prioritizing short-term gains, we would prioritize buy — that is what most people have done. But it’s really time to make sure we nail that experience.”
Smith’s comments are understandable when you analyze them with the company’s status in mind. Blockchain is one of the most popular cryptocurrency wallets in the world and is widely cited as being the best in the business by hundreds of thousands of its users.
By focusing on one thing at a time in this new capacity, the company will be able to provide its customers with an experience that they expect from a firm of Blockchain’s stature.
The company already provides its users in the U. K. with the facility to buy and sell Bitcoin through its platform. The customer base in U. K. has so far been satisfied with the service, which would explain why Blockchain chose this time to test the waters in the U. S. and slowly fulfilling its long-term plan of launching a cryptocurrency exchange.
Coinbase’s name is now synonymous with cryptocurrency trading in the U. S.
Arguably the most popular exchange in the country, it has seen a record number of customers in the past two years, and that trend would have grown further if it was not for the significant dip in service levels that users from all over the country started to register throughout social media.
The clients of Coinbase kept registering their complaints to the company about issues ranging from delayed transactions to unposted requests.
When there were no answers from the company’s conventional channels, the clients took to sites such as Twitter and Reddit to register their grievances, but it seemed that Coinbase had gone silent for a while.
This caused credibility and trust issues from Coinbase’s clients, and it was only after a few online petitions and hundreds of frustrated comments all over social media that the company started to acknowledge and address the issues by sharing statements on Twitter and other relevant platforms.
Nonetheless, the damage was done, and the clients have evidently not been happy with Coinbase as of late.
Therefore, it seems like an excellent opportunity for a service provider like Blockchain.com to swoop in and see how people in the U. S. would react to the services that it is planning to offer.
With a significant portion of the cryptocurrency holders already using Blockchain’s digital wallet services, it certainly seems like the company has the user base that it requires to launch its operations. Now we just need to wait and see how Blockchain.com decides to establish its new services in the country.