Coinbase partner ClearBank posts very first full-year of revenue as profits nearly doubles
Charles McManus, CEO of ClearBank, speaks at the Innovate Finance Global Summit in April 2023.Chris Ratcliffe|Bloomberg|Getty ImagesClearBank, a British monetary innovation company powering payments for the similarity Coinbase, scored its very first complete year of revenue after greater rate of interest assisted drive a 91% dive in earnings.The company swung to an ₤ 18.4 million ($23.3 million) pretax revenue in the year ended Dec. 31, 2023, according to monetary declarations launched Thursday. That's up from a ₤ 7.1 million loss in 2022.The bank initially reached success on a regular monthly basis in November 2022. This is the very first time it has actually reported success on a yearly basis.ClearBank's very first earnings begins the back of a near doubling of its overall earnings. It s...