Brian Armstrong Envisions Coinbase as Fintech Super App

San Francisco, CA – Brian Armstrong, CEO of Coinbase, announced plans for the crypto exchange to transform into a fintech “super app” that could challenge traditional banks.

In remarks made on September 22, Armstrong stated, “We do want to become a super app and provide all types of financial services. We want to become people’s primary financial account.” This shift comes as Coinbase seeks to expand beyond being merely a trading venue.

Armstrong also criticized banks for obstructing the rise of crypto companies, specifically addressing concerns about the US stablecoin law, known as the Genius Act, which could impact up to $6 trillion in deposits. He expressed confidence that lawmakers wouldn’t reconsider the issue, saying, “The senators we spoke to aren’t really going to entertain re-opening that issue.”

This development reflects a broader conflict between traditional financial institutions and emerging crypto firms. Armstrong noted the Trump administration’s proactive stance on crypto, citing executive orders and a recent crypto summit aimed at deregulation, which would facilitate the creation of financial super apps.

Super apps are platforms that integrate various financial services, from banking to payments. Other fintech companies, such as Robinhood and Revolut, have already established versions of these all-in-one applications that include crypto trading.

Armstrong’s vision includes enabling firms to trade crypto securities, commodities, and stocks under a single license, while also streamlining custody regulations and tokenizing equities. He believes that these innovations could position crypto companies like Coinbase as alternative solutions to traditional banks. “These are just more modern, efficient rails that make every payment and the economy fast and cheap,” he added.

The implications of these changes suggest a significant shift in the financial landscape, as both crypto and fintech companies evolve to meet the needs of consumers in a digital age.