Coinbase CEO Brian Armstrong Believes Traditional Banks Launching Own Stablecoins ‘Not Necessarily The Best’ Path— Pitches USDC As Option
Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong, on Thursday, touched on the wisdom of traditional banks launching their own stablecoins in light of their foray into the cryptocurrency industry.
What Happened: During the first quarter earnings call, Armstrong was asked about the growing interest of traditional banks in the cryptocurrency industry after regulatory relaxations.
The top executive acknowledged the increased momentum, stating that Coinbase has held talks and forged partnerships with some players.
Armstrong specifically mentioned some institutions wanting to develop their own dollar-pegged stablecoins, an idea with which he differed.
“Our view is that that’s not necessarily the best path because we think stablecoins have network effects. You want interoperability with other financial institutions to be able to settle payments and do all …
About The Author
