The crypto exchange Coinbase supposedly wants to turn its infrastructure product Coinbase Cloud into the Amazon Web Services (AWS) of the blockchain.
AWS, which provides on-demand cloud computing services and application programming interfaces (APIs) to individuals, businesses and governments on a pay-as-you-go basis, is the most profitable arm of Amazon.
Forbes reports that AWS generated $ 13.5 billion in annual operating profits on a revenue base of $ 45.3 billion in 2020, or 63% of the e-commerce giant’s total revenue.
Coinbase Cloud offers infrastructure and tools for products and services in the crypto space and currently supports custodian banks, exchanges, funds, decentralized applications (DApps) and token holders.
Coinbase Chief Product Officer Surojit Chatterjee told Forbes:
“We want to be the AWS of crypto. We are building this entire Coinbase Cloud product suite, which you can think of as crypto computing services, to help developers build their applications …