Coinbase crossing $ 420 billion in assets, CEO Brian Armstrong compares the best exchange of American crypto to American banks.
In a new article on the X social media platform, Armstrong presents the case For why he thinks that Coinbase is now in competition with the largest banks, brokerage and American payment houses.
“If you are thinking of Coinbase like a bank, we now have about $ 0.42 dollars of assets for our customers, which would make us the 21st Bank Bank in the United States by total and growing assets.
If you think of us more like a brokerage house, we would be the 8th brokerage today by AUM (Assets Under Management).
If you think of us as a payment company … To be honest, I don’t know where we are on this list. There are different ways to measure it, but there have been around 30 billions of dollars in total stabing payments from last year (not all of these were goods and services). »»
Armstrong says that the distinction between Coinbase and many financial suppliers from the United States dissolves as the main exchange of American crypto is developing.
“Many people use Coinbase to invest, but also to spend, get a loan, etc.
In the updated financial system, you will have a single single primary financial account which fulfills all these functions. A higher% of world GDP (gross domestic product) will operate on more effective cryptographic rails over time. We will have solid money, lower friction transactions and greater economic freedom for all. »»
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