Odaily News Coinbase CEO Brian Armstrong said in a post on X: “If you think of Coinbase as a bank, we now hold approximately $0.42 trillion in assets for our customers, which would make us the 21st largest bank in the United States by total assets, and still growing.
If you look at us as a brokerage firm, we would now be the eighth largest brokerage firm by AUM.
If you think of us as a payments company… I’m not sure where we’d rank on that list, to be honest. There are various ways to measure it, but stablecoin payments totaled about $30 trillion last year (not all of it in goods and services, though).
The point is, for crypto, the lines between these categories are blurring. In the traditional financial system, there are many legacy reasons to keep them separate — and not all of them are good reasons. Why should the money you spend depreciate instead of appreciating as an investment? Why shouldn’t your checking account earn the same yield as a savings account (or, better yet, like a Treasury bill)? Many people use Coinbase for investing, but also for spending, getting loans, and more.
In an updated financial system, you would have a single primary financial account that provided all of these functions. Over time, a larger percentage of global GDP would run on more efficient crypto rails. We would have sound money, lower transaction friction, and greater economic freedom.”