Brian Armstrong envisions Coinbase becoming a full-scale bank
Coinbase CEO Brian Armstrong has laid out an ambitious roadmap for the exchange, saying he envisions the platform evolving into a full-scale financial institution that rivals traditional banks. Speaking in an interview with Fox Business, Armstrong said Coinbase’s long-term goal is to become a “super app” that serves as people’s primary financial account.
Armstrong explained that Coinbase plans to expand well beyond crypto trading, offering services such as payments, credit cards, and rewards, all powered by blockchain infrastructure. He said the aim is to give users the convenience of a bank while avoiding what he sees as inefficiencies in the legacy financial system. “It doesn’t make sense that every time we swipe a card, we’re paying two to three percent in fees,” he noted, calling those charges outdated in a digital economy.
One of the company’s headline products in development is a credit card with 4% Bitcoin rewards, which Armstrong described as a step toward replacing banks for consumers. Coinbase has already rolled out integrations with decentralized finance protocols like Morpho, allowing customers to lend USDC directly within the app and potentially earn yields that rival traditional savings products.
The timing of this expansion aligns with progress in US regulation. Armstrong pointed to recent legislative milestones, including the GENIUS Act and advances in market structure bills, as signs that the crypto industry is gaining long-term stability. He suggested the regulatory landscape is beginning to resemble a level playing field for companies like Coinbase compared to large banks.
Despite existing partnerships with firms such as JPMorgan and PNC, Armstrong argued that the future lies in building a financial ecosystem native to crypto, not reliant on outdated banking models. By creating a comprehensive set of tools for payments, credit, and investment, Coinbase hopes to position itself as a true alternative to the institutions it once depended on.
