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9h ago

Coinbase Sets Sights on Crypto Super App as Armstrong Outlines Bank-Replacement Push

Armstrong says momentum in Congress could provide the regulatory runway for Coinbase’s plan to make crypto the default financial account.

Coinbase unveils ambitious goal: 'A better set of financial services'
Coinbase ceo: 'we want to become a super app and provide all types of financial services'

Overview

  • Armstrong pointed to a Coinbase credit card offering up to 4% back in bitcoin as an early example of services built on crypto rails.
  • Coinbase is piloting yield features, including reported stablecoin programs and a Morpho integration that lets users earn USDC returns without leaving the app.
  • The CEO backed the Crypto Clarity Act and cited progress on the GENIUS Act and a Senate market-structure bill as key to scaling new products.
  • Partnerships with JPMorgan and PNC continue for custody and payments even as bank groups push back on crypto rewards and stablecoin yield offerings.
  • To build out capabilities, Coinbase made a reported $2.9 billion acquisition of Deribit in August.