Coinbase CEO Confirms Plan to Build Coinbase into a Super App to Replace Traditional Banks

In a recent interview with Fox Business, Coinbase's CEO clarified the company's long-term goal of building a crypto "super app" offering comprehensive financial services, aiming to gradually replace traditional banking models.

Armstrong emphasized that Coinbase is not only committed to expanding into cryptocurrency trading but also plans to build a comprehensive financial product ecosystem encompassing payments, lending, credit cards, and user rewards, all of which will be powered by crypto technology.

He stated in the interview, "We truly aspire to be a super app, integrating all kinds of financial services. I believe cryptocurrencies have the potential and legitimacy to fundamentally reshape the financial industry."

This vision means that Coinbase will move beyond its role as a trading platform and evolve into an open, fully autonomous, and comprehensive financial ecosystem, centered around blockchain technology, enabling users to conduct a wider range of financial operations in a crypto-powered environment.

Armstrong further emphasized that the decentralization, transparency, and global accessibility offered by cryptocurrencies are fundamental to achieving this ideal "financial super app." By providing faster, lower-cost, and more inclusive financial services, Coinbase hopes to drive the industry towards a more open and free future.