Coinbase CEO Brian Armstrong said the most ambitious vision of his company is to replace traditional banks by converting Coinbase to “Super App”.
Speak during an interview interview With Fox Business, ARMSTRONG has confirmed the company’s plans to provide a full range of financial services, from payments to credit and reward cards, all of which are supported by Crypto Rails.
“Yes, we want to become a super application and provide all kinds of financial services,” said Armstrong. “We want to become a basic financial account for people and I think Crypto has the right to do so.”
Armstrong criticized the current banking system as outdated and ineffective, pointing to high transaction fees as one of the main pain points. “It is a kind of filling. He asked.” It is just some parts of the data that flows online. It should be free or close to it. “
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Coinbase Eyes 4 % bitcoin bonus card
Coinbase CEO said that the long -term goal is to provide better services in all fields, including 4 % credit card with Bitcoin (BTC). “In the end, we want to be an alternative to the bank for people,” he said.
Payment comes to apply Super amid increasing regulatory clarity in the United States. Armstrong praised the recent legislative victories such as a genius law and progress in the legislation of the wider market structure in the Senate, noting that the “shipping train has left the station” regarding organizational clarity.
“We participated in a partnership with banks like JPMorgan and PNC,” Armstrong noted, “but their people are sometimes doing a different book. We prefer that they are only working in a flat stadium with every other company.”
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Coinbase Taps Defi to enhance USDC yield
As CointeleGRAph mentioned, Coinbase merged the decentralized lending protocol into its application, allowing users to lend to USDC (USDC) directly without the need for Defi platforms by third -party. This step allows users to earn a possibility of up to 10.8 %.
The offer comes amid tensions about the chapter -carrying stablecoins, which were banned under the law of genius. The banks -backed groups, such as the Institute of Banking Policy of Organizers, called for the closure of the vulnerabilities that allow the return through the integration of Defi to an external authority.
Coinbase rejected these criticisms, saying that Stablecoins is not a threat to lending but a modern alternative to outdated banking models.
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