During his trip to Davos for the World Economic Forum, Coinbase CEO Brian Armstrong said a senior executive from one of the world’s 10 largest banks told him that crypto was now their “number one priority” – and that they considered it “existential.”
Armstrong’s post, shared on X, highlighted a shift in how traditional financial institutions are engaging with crypto. The remark highlights the growing urgency for traditional banks to adapt to crypto infrastructure, especially as global regulators move closer to establishing clearer rules for digital assets.
I just finished our week in Davos. I don’t like wearing a suit every day, but sometimes you have to!
Davos is a unique place: executives and CEOs from around the world (and many crypto companies!) all come together for a few days in a small mountain town in Switzerland. It’s a productive activity… pic.twitter.com/0lO5TqRhkL
–Brian Armstrong (@brian_armstrong) January 24, 2026
Armstrong didn’t name the bank or the executive, but said many financial executives he met during the week-long event weren’t just open to crypto — they were actively looking for ways to get in. “Most of them are actually very pro crypto and are looking at it as an opportunity,” he wrote.
For banks that rely on traditional payment channels, crypto represents both a challenge and an opportunity.
Read more: Bank of America CEO says stablecoins could drain billions in bank deposits
Tokenization push
As stablecoins and tokenized assets gain momentum, the threat of disintermediation increases. It is possible that a global asset manager or fintech company could one day bypass traditional banks entirely by offering direct access to tokenized securities or stablecoin-based transfers, thereby moving value instantly, without clearing delays or intermediaries (a key pillar of crypto).
Armstrong said tokenization was one of the most discussed trends at Davos, extending beyond stablecoins to stocks, credit and other financial products.
He highlighted the estimated 4 billion “no-middle” adults around the world who lack access to high-quality investments. According to him, tokenization could help bridge this gap.
“Expect major progress here in 2026,” he added.
CLARITY Regulations
The Coinbase CEO also noted that political support for crypto in the United States appears to be growing.
He cited the Trump administration’s push for crypto-focused legislation, such as the CLARITY Act, which aims to provide a regulatory framework for digital assets. Armstrong did not address his company’s decision to withdraw support for the Crypto Market Structure Bill at the last minute, following which the hearing was delayed.
Read more: Here’s why Coinbase and other companies have taken a hit from the major crypto bill
Armstrong described the administration as “the most crypto-advanced government in the world” and said promoting clear rules is key to maintaining U.S. competitiveness as countries like China invest heavily in stablecoin infrastructure. A theme also mentioned by Donald Trump during his speech in Davos.
AI and crypto
Armstrong also said that artificial intelligence (AI) and cryptography were the two most discussed technologies at Davos.
While in capital markets the rise of AI has taken the wind out of crypto, Armstrong emphasized that the two are closely related. AI agents, he said, will likely default to using stablecoins for payments, bypassing conventional identity checks and banking restrictions.
The infrastructure exists and its use is growing rapidly,” he added.
The message from Armstrong’s Davos recap was clear: cryptography is no longer a fringe experiment. For at least some of the world’s biggest financial players, it is now a strategic priority – and perhaps a matter of survival.
Read more: Coinbase CEO Brian Armstrong speaks with the head of the Central Bank of France in Davos about yield and the ‘Bitcoin standard’
