Coinbase Presented the Plan To Become As Big As the New York Stock Exchange (NYSE)
Brian Armstrong, the Coinbase CEO, claimed that besides being the most popular cryptocurrency exchange platform across the United States, Coinbase also plans on growing into the dominant securities exchange in the market, resembling the New York Stock Exchange (NYSE).
During the TechCrunch Disrupt event held in San Francisco, Brian Armstrong stated that Coinbase aims to turn into the de-facto platform for an ever-expanding number of cryptocurrencies. Besides, Coinbase CEO also disclosed his company’s plan to become the fundamental platform of the securities exchange marketplace.
“It makes sense that any company out there who has a cap table. Should have their own token. Every open source project, every charity, potentially every fund or these new types of decentralized organizations and apps, they’re all going to have their own tokens. We want to be the bridge all over the world where people come, and they take fiat currency, and they can get it into these different cryptocurrencies,” stated Brian Armstrong, Coinbase CEO.
Coinbase cryptocurrency exchange platform aims to grow as big as the New York Stock Exchange (NYSE)
First, Brian Armstrong believes that the bright future predicted for cryptocurrencies could help his platform expend the currently-accepted crypto lists to hundreds of such digital assets. However, the only obstacle on this path is the US cryptocurrency regulation framework where nothing is yet clear and well-established.
In the meantime, Coinbase cryptocurrency exchange platform struggles to list securities tokens and to achieve that it teamed up with Keystone Capital which is a securities dealer.
“We do feel a substantial subset of these tokens will be securities. Our approach has always been to be the most trusted exchange and the easiest to use. So we want to be the legal compliant place where you can start to trade these tokens that are classified as securities,” said Coinbase CEO, Brian Armstrong.
If it would achieve what it plans for, Coinbase will become o dominant securities marketplace, maybe as big as the New York Stock Exchange (NYSE) or NASDAQ.
Brian Armstrong is the co-founder and CEO of Coinbase, one of the largest crypto exchanges in the world (its reported Coinbase holds 966,230 Bitcoin ($7B) in Cold Wallet). Prior to his involvement with the blockchain and Coinbase, Armstrong worked at Deloitte and Touche as an Enterprise Risk Management Consultant.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.