Business Insights
  • Home
  • Crypto
  • Finance Expert
  • Business
  • Invest News
  • Investing
  • Trading
  • Forex
  • Videos
  • Economy
  • Tech
  • Contact

Archives

  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • August 2023
  • January 2023
  • December 2021
  • July 2021
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019

Categories

  • Business
  • Crypto
  • Economy
  • Finance Expert
  • Forex
  • Invest News
  • Investing
  • Tech
  • Trading
  • Uncategorized
  • Videos
Subscribe
Money Visa
Money Visa
  • Home
  • Crypto
  • Finance Expert
  • Business
  • Invest News
  • Investing
  • Trading
  • Forex
  • Videos
  • Economy
  • Tech
  • Contact
Coinbase aims to be world's Number 1 financial service app in 10 years
  • Investing

Coinbase aims to be world’s Number 1 financial service app in 10 years

  • May 20, 2025
  • Roubens Andy King
Total
0
Shares
0
0
0
Total
0
Shares
Share 0
Tweet 0
Pin it 0

Brian Armstrong, CEO and Co-Founder, Coinbase, speaks during the Milken Institute Global Conference on May 2, 2022. in Beverly Hills, California.

Patrick T. Fallon | AFP | Getty Images

Coinbase CEO Brian Armstrong said the crypto platform aims to become one of the biggest financial services companies in the world in a few years, aided by traditional players who continue adopting crypto at an accelerating rate.

Asked on the company's call with analysts this week if Coinbase plans to enter traditional finance, Armstrong said that rather than look backward, he “wants to look forwards and skate to where this opportunity is going.”

“Today, we're primarily focused on trading and payments … across our major customer groups: retail, small [and] medium sized businesses, institutions and developers,” Armstrong said on the quarterly earnings call Thursday.

“In five- to 10 years, our goal is to be the number one financial services app in the world across those customer segments because we believe that crypto is eating financial services, and we are the number one crypto company,” he added. “All these asset classes – money market funds, real estate, securities, debt – these are all coming on chain.”

Expanding platform

Coinbase operates primarily as a cryptocurrency exchange. Over the years it has added other products and services focused on non-trading aspects of crypto for retail and institutional users alike – including payments via stablecoins, rewards through stablecoins and staking and custody for institutions. BlackRock, Stripe and PayPal are among more than 200 institutional customers for those services.

This week, the Office of the Comptroller of the Currency (OCC) cleared the U.S. banks that it regulates to buy and sell and act as custodian of crypto assets for customers, joining the Federal Reserve and Federal Deposit Insurance Corporation (FDIC) in rolling back restrictive crypto rules in the past two months. In 2023, all three agencies had cautioned banks against partnering with the industry or offering crypto services.

As the Trump administration loosens regulatory constraints on crypto and Congress stands on the verge of passing stablecoin legislation later this year, traditional institutions have shown more interest in expanding into crypto-related services. In February, Bank of America CEO Brian Moynihan said the Charlotte-based lender could introduce a stablecoin if regulation allows.

“We think that every major bank is going to be integrating crypto at some point … it's technology to update the financial system,” Armstrong said. “We can power a variety of things for them. [For] some of them, it's a custodial solution. Others are interested in having a stablecoin solution.”

“We've seen some interest where banks and other companies will want to create their own stablecoin,” he continued. “Our view is that that's not necessarily the best path because stablecoins have network effects. You want interoperability with other financial institutions to be able to settle payments and do all kinds of things.”

Biggest driver

Stablecoins have become Coinbase's biggest driver of revenue after trading. In the first quarter, revenue tied to stablecoins soared 50% from the year-earlier period and 32% from the fourth quarter. Coinbase is a cofounder of the popular USDC stablecoin, has a 50% revenue sharing agreement with issuer Circle and also makes 100% of the interest earned by USDC products on the Coinbase platform.

Armstrong has said Coinbase has a “stretch goal” to make USDC the number 1 stablecoin in the world, a position ccurrently held by Tether's USDT.

“If you can get shared economics, I don't see why we wouldn't see more of these banks partnering with USDC,” Armstrong said. “Regardless, we at Coinbase can help power infrastructure for all these folks that are coming into the industry … that's a big part of our plan.”

Don't miss these cryptocurrency insights from CNBC Pro:

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Roubens Andy King

Previous Article
Energy investor Five Point targets  billion from Northwind pipelines sale, sources say
  • Finance Expert

Energy investor Five Point targets $2 billion from Northwind pipelines sale, sources say

  • May 20, 2025
  • Roubens Andy King
Read More
Next Article
Small Cap Tech Stocks Are Taking Off
  • Invest News

Small Cap Tech Stocks Are Taking Off

  • May 20, 2025
  • Roubens Andy King
Read More
You May Also Like
What Investors Need to Know
Read More
  • Investing

What Investors Need to Know

  • Roubens Andy King
  • August 2, 2025
Here’s Why Signet (SIG) Fell More Than Broader Market
Read More
  • Investing

Here’s Why Signet (SIG) Fell More Than Broader Market

  • Roubens Andy King
  • August 2, 2025
The Stock Market Has Never Been Pricier, According to Warren Buffett’s Favorite Valuation Tool — and History Is Clear What Happens Next
Read More
  • Investing

The Stock Market Has Never Been Pricier, According to Warren Buffett’s Favorite Valuation Tool — and History Is Clear What Happens Next

  • Roubens Andy King
  • August 2, 2025
What Investors Need to Know
Read More
  • Investing

What Investors Need to Know

  • Roubens Andy King
  • August 2, 2025
AeroVironment (AVAV) Registers a Bigger Fall Than the Market: Important Facts to Note
Read More
  • Investing

AeroVironment (AVAV) Registers a Bigger Fall Than the Market: Important Facts to Note

  • Roubens Andy King
  • August 2, 2025
Pagaya Technologies Ltd. (PGY) Declines More Than Market: Some Information for Investors
Read More
  • Investing

Pagaya Technologies Ltd. (PGY) Declines More Than Market: Some Information for Investors

  • Roubens Andy King
  • August 2, 2025
FedEx (FDX) Registers a Bigger Fall Than the Market: Important Facts to Note
Read More
  • Investing

FedEx (FDX) Registers a Bigger Fall Than the Market: Important Facts to Note

  • Roubens Andy King
  • August 1, 2025
Why Intrusion Inc. (INTZ) Dipped More Than Broader Market Today
Read More
  • Investing

Why Intrusion Inc. (INTZ) Dipped More Than Broader Market Today

  • Roubens Andy King
  • August 1, 2025

Recent Posts

  • Astrea 9 Bond: Why You Should Think Beyond the Yield Before Subscribing
  • What Investors Need to Know
  • ‘The sky has not fallen — yet’: Is it time to start worrying about a U.S. recession?
  • Amazon is selling a 'convenient' $45 clothes steamer for $22, and shoppers call it 'highly effective'
  • ANBERNIC RG 477M review: Rethinking retro handheld design
Featured Posts
  • Astrea 9 Bond: Why You Should Think Beyond the Yield Before Subscribing 1
    Astrea 9 Bond: Why You Should Think Beyond the Yield Before Subscribing
    • August 2, 2025
  • What Investors Need to Know 2
    What Investors Need to Know
    • August 2, 2025
  • ‘The sky has not fallen — yet’: Is it time to start worrying about a U.S. recession? 3
    ‘The sky has not fallen — yet’: Is it time to start worrying about a U.S. recession?
    • August 2, 2025
  • Amazon is selling a 'convenient'  clothes steamer for , and shoppers call it 'highly effective' 4
    Amazon is selling a 'convenient' $45 clothes steamer for $22, and shoppers call it 'highly effective'
    • August 2, 2025
  • ANBERNIC RG 477M review: Rethinking retro handheld design 5
    ANBERNIC RG 477M review: Rethinking retro handheld design
    • August 2, 2025
Recent Posts
  • ARK Invest Adds to Coinbase and BitMine Positions as Stocks Drop
    ARK Invest Adds to Coinbase and BitMine Positions as Stocks Drop
    • August 2, 2025
  • S&P 500, Nasdaq Had a Strong July, Extending Winning Streaks
    S&P 500, Nasdaq Had a Strong July, Extending Winning Streaks
    • August 2, 2025
  • Weekend reading: meeting your idols
    Weekend reading: meeting your idols
    • August 2, 2025
Categories
  • Business (1,315)
  • Crypto (710)
  • Economy (105)
  • Finance Expert (1,165)
  • Forex (710)
  • Invest News (1,599)
  • Investing (899)
  • Tech (1,301)
  • Trading (1,285)
  • Uncategorized (1)
  • Videos (775)

Subscribe

Subscribe now to our newsletter

Money Visa
  • Privacy Policy
  • DMCA
  • Terms of Use
Money & Invest Advices

Input your search keywords and press Enter.