Coinbase’s CEO, Brian Armstrong, envisions the US crypto exchange platform as the future primary financial account for its customers. In an interview on CNBC Television, Armstrong shared that Coinbase is planning to introduce new features that could potentially replace traditional bank accounts for users.

Armstrong explained that while Coinbase is not looking to become a bank, they aim to become the main financial hub for their customers. With the increasing digitization of money and the shift towards mobile banking, Armstrong believes that people’s phones will serve as their wallets in the future. He emphasized the importance of features like the Coinbase Card for spending and USD Coin for holding US dollar balances. Additionally, Armstrong mentioned the possibility of offering services like wire transfers or bank transfers to solidify Coinbase as a primary financial account.

Furthermore, Armstrong highlighted the growing adoption of crypto in the traditional finance sector, with 56% of Fortune 500 companies engaging in blockchain technology. He noted that major players like BlackRock, JP Morgan, Google Cloud, Stripe, and PayPal are all integrating crypto into their operations, indicating the staying power of digital assets.

In conclusion, Armstrong expressed his confidence in the future of crypto and its integration into mainstream finance. He believes that Coinbase is well-positioned to become a key player in the financial landscape, offering users a seamless and efficient way to manage their finances.