From Subscription Model to All-in-One Platform: How a Compliant Exchange Achieved Business Transformation

[CryptoWorld] A piece of news before the stock market opens has stirred the attention of crypto exchanges. A well-known investment bank has upgraded the rating of a compliant exchange—from “Neutral” directly to “Buy,” with the target price jumping from $294 to $303. Once the news broke, the exchange’s stock price rose by 4.5% in response, and the market reaction was quite positive.

The investment bank’s optimistic reasoning is actually quite convincing. They pointed out that this exchange has completed a key business transformation, gradually evolving from a single trading scenario into a structurally growing platform. The data speaks for itself—subscription and service revenue now account for nearly 40%, indicating that income sources are no longer overly dependent on trading fees.

And this transformation is not unfounded. The exchange’s CEO previously announced a detailed roadmap for 2026, with ambitious plans—to build an “all-in-one exchange” that integrates cryptocurrencies, stocks, and commodities. This multi-asset layout is exactly what traditional financial institutions have been doing, and now exchanges are starting to play the same game. The market clearly approves.