Coinbase CEO Brian Armstrong shared his perspective on how the company could compete with the largest US banks and brokers.
Coinbase's Position in the Financial World
If Coinbase were classified as a bank, it would be the 21st largest in the US, managing $0.42 trillion in assets. As a brokerage, it would rank eighth by assets under management.
Overview of the Payments Sector
Armstrong notes that while it's harder to pinpoint Coinbase's exact position in payments, the scale is clear: $30 trillion in stablecoin payments were processed last year.
The Future of Finance — One Account for Everything
Armstrong envisions a future where people rely on a single financial account for everything from investments to spending, enabled by crypto's efficiencies. This could lower transaction costs and increase economic freedom.
Coinbase aims to integrate various financial functions into one account, offering more economically favorable solutions through crypto.
