Coinbase, the leading US cryptocurrency exchange, has hit a major milestone: it’s now holding over $420 billion in assets. CEO Brian Armstrong believes this puts Coinbase in the same league as some of the biggest US financial institutions.
Coinbase: Bank, Brokerage, or Payment Processor?
Armstrong took to X (formerly Twitter) to make his case. He argued that depending on how you look at it, Coinbase’s size is truly impressive:
- As a bank: With $420 billion in assets, Coinbase would rank as the 21st largest bank in the US.
- As a brokerage: It would be the 8th largest, based on assets under management (AUM).
- As a payment processor: Armstrong admits it’s harder to quantify, citing the massive $30 trillion in stablecoin payments last year. However, he notes that not all of these payments were for goods and services.
The Future of Finance?
Armstrong sees Coinbase as more than just a crypto exchange. He envisions it as a central hub for all financial needs, offering investing, spending, and even loans. He predicts a future where a single primary financial account handles everything, powered by more efficient crypto systems. This, he believes, will lead to sounder money, smoother transactions, and greater economic freedom.
Disclaimer:
This information is for general knowledge only and is not financial advice. Investing in cryptocurrencies is risky, and you could lose money. Always do your own research before making any investment decisions./p>
