Brian Armstrong, co-founder and CEO of Coinbase (COIN)Friday, in an interview that the long-term goal of Coinbase is to be a financial “super application”, offering a crypto alongside a wide range of financial services beyond the traditional bank.
Armstrong, speaking on “The Claman Countdown” of Fox Business “, told Liz Claman that the momentum at Congress is the strongest that he has seen, with legislators from the two parties who advance executives for the industry. A movement that stimulates the omino of Coinbase towards the construction of the super application.
He explained how his business wanted to approach construction during the interview.
Coinbase intends to integrate the services that people generally obtain banks and fintechs and deliver them to cryptographic rails. He underlined a recently launched Coinbase credit card which reimburses 4% in Bitcoin as an early example and scanning fees from 2% to 3% of Card Networks show why payments need a overhaul.
The longer-term objective, he said, is a complete application that manages expenses, savings, payments and investment, not just trade.
Armstrong explicitly stated the ambition: “We want to replace the bank for people, we want to be their main financial account”, adding that Coinbase aims to “provide all types of financial services”, not only the crypto. He agreed with the framing that it amounts to becoming a great application and said that cryptographic rails make it doable by offering a faster and cheaper settlement.
Washington and Big Banks
According to Armstrong, the path to the super application begins with the legislators.
He underlined the recent adoption of the “law on engineering”, which established rules for stabbed, and a distinct bill on the structure of the market now in debate in the Senate which would define how tokens like bitcoin and ether are regulated.
“This freight train has left the station,” said Armstrong, describing the growing bipartite interest in putting clear rules on books. He argued that clarity could resolve years of conflict with regulators under the previous administration, which often treated cryptographic tokens as unregistered titles.
However, despite the historic push of the legislators to help establish a regulatory framework, a last obstacle must be released: lobbying by large banks.
Some institutions, he explained, have sought to restrict the reward programs on the stabbed, saying that they would undermine the business of traditional payments. Armstrong rejected these concerns, saying that cryptographic rewards are not different from air miles or credit card points.
“American consumers want to earn more money on their money-it should be completely authorized,” he said.
Although he has criticized lobbying efforts to block competition, Armstrong also stressed that Coinbase is associated with large banks such as JPMorgan and PNC to provide childcare and payment services, showing that parts of the sector adopt crypto rails.
Stay ahead of the rivals
Although the construction of a great application is a monumental task that has grown, Coinbase must still look for competitors who could fight for a market share.
However, Armstrong is not worried; Rather, it welcomes competition.
With new exchanges entering the American market, including the platforms launched by Gemini and others, Armstrong said that Coinbase benefits from its advance. He argued that a flourishing ecosystem is essential for traditional adoption, and the advantage of Coinbase comes from confidence.
According to Armstrong, Coinbase now stores more crypto than any other supplier, which encourages customers to use its wider suite of payments trading services. He said that ambition is not only to facilitate transactions, but also to become the platform that people use as “main financial account”.
The vision of the “main account” of Armstrong echoes the remarks of the CEO of Robinhood Vlad Tenev, who asked at the top of the all-in 2025, “can we be your full financial platform?” And described banking and wealth features as stages towards this objective, according to a business insider report published on September 15. The comparison suggests that several American fintechs are relaxing to develop beyond the negotiation of daily finance.
Bitcoin Outlook
Maintenance also discussed the wider market.
Armstrong avoided short -term predictions, but said he saw “a good luck” that Bitcoin could reach $ 1 million by 2030.
He cited three main rear winds: regulatory clarity, the creation of a reserve of American strategic bitcoin and heavy entries in the newly launched Bitcoin ETFs, 80% of which are based on Coinbase for the Guard.
He compared the role of Bitcoin in portfolios to a gold and actions hybrid, noting that many investors now consider it both as a coverage against uncertainty and a long -term growth asset.
