Coinbase CEO Brian Armstrong Aims to Build a Full-Service Crypto Super App
Brian Armstrong, the CEO of Coinbase, has expressed that his company’s boldest vision is to replace conventional banks by transforming Coinbase into a comprehensive crypto “super app.”
In a recent interview with Fox Business, Armstrong detailed the company’s strategy to provide an all-encompassing suite of financial services, including payments, credit cards, and rewards, all designed around crypto infrastructure.
Coinbase’s Vision for the Future
“Yes, we do want to become a super app and provide all types of financial services,” Armstrong stated. “We want to become people’s primary financial account, and I believe crypto has the right to achieve that.”
Armstrong criticized the existing banking system for being outdated and inefficient, highlighting high transaction fees as a significant issue. “It kind of boggles my mind. Like, why are we paying two to three percent every time we swipe our credit card?” he questioned. “It’s just some bits of data flowing over the internet. It should be free or close to it.”
According to the Coinbase CEO, the long-term ambition is to deliver superior services across the spectrum, which includes offering a credit card with 4% Bitcoin (BTC) rewards. “Ultimately, we want to be a bank replacement for people,” he emphasized.
The aspiration for a super app is taking shape amid increasing regulatory clarity in the United States. Armstrong applauded recent legislative successes such as the GENIUS Act and noted the advancement of broader market structure legislation in the Senate, asserting that the “freight train has left the station” in terms of regulatory clarity.
“We’ve partnered with banks like JPMorgan and PNC,” Armstrong remarked, “but their policy teams sometimes follow a different playbook. We’d prefer that they operated on a level playing field with all other companies.”
As reported, Coinbase has integrated the decentralized lending protocol Morpho into its app, enabling users to lend USDC (USDC) directly without requiring third-party DeFi platforms. This development allows users to potentially earn yields as high as 10.8%.
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This rollout comes amidst increasing concerns regarding yield-bearing stablecoins, which faced restrictions under the GENIUS Act. Groups such as the Bank Policy Institute have urged regulators to close perceived loopholes that allow yields through third-party DeFi integrations.
Coinbase has refuted these concerns, asserting that stablecoins are not a threat to lending but rather a modern alternative to outdated banking revenue models.
