Coinbase CEO: Plans to become a leading financial services application in 5-10 years, intends to develop stablecoin business

Odaily News Coinbase CEO Brian Armstrong said the company plans to transform into a leading financial services application in the next decade, as cryptocurrencies are eroding financial services, and money market funds, real estate, securities, debt, etc. will all enter the blockchain field. Brian Armstrong emphasized that Coinbase will be committed to achieving this goal by expanding product lines, promoting globalization, and strengthening compliance. It is currently expanding diversified services including stablecoin payments, crypto lending, custody services, and derivatives trading. Stablecoins have become Coinbase's largest revenue driver besides trading. In Q1, stablecoin-related revenue soared 50% from the same period last year and 32% from the fourth quarter. (CNBC)