Coinbase CEO Brian Armstrong laid out an ambitious long-term vision for the company, stating that Coinbase aims to become the world’s leading financial services app within the next five to ten years.
According to CNBC, the CEO of Coinbase said he hopes the Crypto platform will become one of the world’s largest financial services companies in a few years.
“In five to ten years, our goal is to become the number one financial services app in the world across these customer segments because we believe Crypto is eating financial services and we believe we are the number one crypto company,” Armstrong said.
Armstrong added that asset classes, including money market funds, real estate, securities and debt instruments, are gradually moving their chains. As more participants adopt blockchain and digital assets, companies like Coinbase are set to benefit from this trend.
I won’t look back
When asked on a call with an analyst whether Coinbase would try to enter traditional finance, Armstrong replied, “I’m looking forward to where this opportunity will go and I’d like to skate.”
Stablecoins are extremely important to Coinbase’s strategy. Coinbase CEO said that its “stretch goal” is to make USDC the number one Stablecoin in the world, as he is co-founder of USDC Stablecoin.
Last week, Coinbase announced a 24/7 trading of Bitcoin and Ethereum futures, marking a significant milestone as it will be available for the first time in futures contracts that have been leveraged in exchange for CFTC regulations.
Coinbase has also made its promise to introduce permanent style futures to the US, allowing retailers to access one of Crypto’s most widely used derivative products.
