Bank of the future already here?

 🚀 Coinbase CEO Brian Armstrong in his latest speech declared that the company is ready to turn into a financial super app that can replace traditional banks. In his vision, Coinbase is no longer just a crypto exchange, but a full-fledged financial ecosystem where users receive all familiar services — but in a digital and decentralized format.

The main goal: to become the primary financial account of users. Armstrong emphasized that Coinbase strives to become the “number one financial home” for millions of clients.

Through a single app, a user will be able to:

• store and transfer money,
• pay for purchases,
• use credit and debit cards,
• earn cashback up to 4% in Bitcoin,
• invest in cryptocurrencies and DeFi instruments.

“We want Coinbase to become the main financial account for people, just as the bank account used to be,” the company’s head noted.

DeFi integration and yield up to 10.8%

One of the key innovations has been the integration of the Morpho protocol directly into the Coinbase app. This allows users to earn yields up to 10.8% on USDC stablecoin, bypassing intermediaries. For the mass client, this sounds revolutionary: instead of a traditional bank deposit yielding 1-2%, one can earn several times more simply by holding funds in a digital wallet.

Criticism of traditional banks

Armstrong did not hide his stance: “The banking system is outdated. Fees, transfer delays, opaque conditions — all of this is a legacy of the past century. We want to give people a modern bank alternative that will work faster, cheaper, and more conveniently.”

In his view, it is crypto platforms that can eliminate the main drawback of banks — the cumbersome infrastructure that has long ceased to meet the needs of the digital economy.

Regulatory changes in the US: a window of opportunity

A key factor was the adoption of the GENIUS Act, which for the first time introduced clear rules for the crypto business in the US. Coinbase intends to take advantage of this moment to strengthen its position while traditional banks are only beginning to study the new rules of the game.

“There is now a unique chance to establish ourselves as the main crypto bank of America and the world. When the rules are clear, all that remains is to act,” Armstrong stressed.

A hybrid of bank and crypto platform

In fact, Coinbase is building a model of a hybrid institution:

• on one side, it is a bank with familiar cards, payments, and bonuses;
• on the other — a decentralized platform with access to stablecoins, DeFi, and Web3.

The focus is on integrating cryptocurrencies into everyday finance, so that users can use them just as easily as a bank card.

🎯 What does this mean for the market?
Coinbase is aiming to create a new paradigm — a financial app that not only competes with banks but pushes them out of everyday life. If Armstrong’s strategy is realized, the world may see the first crypto platform with the scale of a global bank.