Brian Armstrong says goal is to become people’s primary financial account
Coinbase CEO Brian Armstrong has unveiled the company’s most ambitious plan yet: transforming the exchange into a full-service crypto super app designed to rival traditional banks.
Speaking in a recent interview, Armstrong said Coinbase aims to integrate payments, credit cards, rewards, and decentralized finance into one platform. “Yes, we do want to become a super app and provide all types of financial services,” he noted. “We want to become people’s primary financial account and I think that crypto has a right to do that.”
Challenging traditional banking
Armstrong criticized the current banking system as inefficient and costly, highlighting the 2–3% transaction fees consumers often pay on credit card purchases. “It kind of boggles my mind. Like, why are we paying two to three percent every time we swipe our credit card? It’s just some bits of data flowing over the internet. It should be free or close to it,” he said.
The company’s roadmap includes a credit card offering 4% Bitcoin rewards, a move Armstrong described as part of a broader push to give consumers better financial options than legacy banks.
Regulatory backdrop and partnerships
The announcement comes as the U.S. crypto industry gains momentum from legislative wins, including the GENIUS Act and progress on market structure reforms in the Senate. Armstrong argued that the regulatory landscape has shifted in crypto’s favor: “The freight train has left the station regarding regulatory clarity.”
Coinbase has worked with banking giants like JPMorgan and PNC, though Armstrong expressed frustration that policy divisions sometimes created uneven competition. He urged for a level playing field across financial services.
DeFi integration for stablecoin yields
As part of its expansion, Coinbase recently integrated the decentralized lending protocol Morpho, allowing users to lend USDC directly within the app. This feature enables potential yields as high as 10.8%, positioning stablecoins as a modern alternative to traditional savings products.
Critics argue yield-bearing stablecoins could bypass banking rules, but Coinbase maintains they represent innovation rather than risk. “Stablecoins aren’t a threat to lending but a new revenue model,” the company said.
For Armstrong, the mission is clear: replace outdated banking infrastructure with crypto-powered services. If successful, Coinbase could shift from being just an exchange to becoming a cornerstone of global financial activity.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.