Coinbase, per its total customer assets, might be the 21st bank in the US.
The trading platform is also a large brokerage and payment firm.
Armstrong reiterated Coinbase’s role in the future of finance.
, the CEO of Coinbase Global Inc, sees the company as more than just a trading platform. He believes it is growing into a top financial firm. In a recent statement on X, Armstrong talked about how holds billions in customer assets. He noted that the exchange now sits at the center of banking, brokerage, and payments. With its growth, his firm is becoming a top player in the payment world.
Coinbase: More Than Just a Crypto Exchange
Coinbase now holds $420 billion in customer assets. Armstrong stated that compared to traditional banks, the exchange could rank as the 21st largest bank in the US by total assets.
However, banking is just one of the ways the trading platform’s growth can be viewed. Armstrong said if users see the exchange as a brokerage, it would rank as the 8th largest in the US based on assets under management (AUM).
Armstrong also talked about how it is hard to rate the role of the platform in the payments sector. He noted that the exchange’s stablecoin transactions alone reached $30 trillion. This volume shows how it is an important processor in the US.
If you think of Coinbase like a bank, we now hold about $0.42T in assets for our customers, which would make us 21st largest bank in the US by total assets, and growing.
If you think of us more like a brokerage, we’d be the 8th largest brokerage today by AUM.
If you think of us…
— Brian Armstrong (@brian_armstrong) February 7, 2025
If you think of Coinbase like a bank, we now hold about $0.42T in assets for our customers, which would make us 21st largest bank in the US by total assets, and growing.
If you think of us more like a brokerage, we’d be the 8th largest brokerage today by AUM.
If you think of us…
— Brian Armstrong (@brian_armstrong)
The rise of Coinbase is a gradual one that shows the new trend among its peers. Traditionally, banking, brokerage, and payments operate differently. However, crypto is changing this trend with an all-in-one solution.
In his post, Armstrong asked his followers why money in a checking account doesn’t earn yield like an investment. He also wondered why spending cash causes it to lose value instead of growing like an asset.
With platforms like Coinbase, users can store assets, trade, invest, borrow, and even spend, all within the same ecosystem. Crypto leaders have often talked about how blockchain can disrupt traditional finance in general.
The Coinbase CEO predicts a time will come when the exchange and related businesses will lead the financial world per their offerings to everyday users. Lastly, he believes a significant global GDP will move to blockchain rails. This would reduce friction and enhance financial freedom globally.
Strategic Innovations and Expansions
The change in Coinbase is proof that the financial system is growing. Whether it is ranked as a bank, a brokerage, or a payments company, its impact on the future of money is visible.
Recently, the exchange introduced new products to enhance its services and expand its market presence. As by Coinspeaker, the exchange launched Wallet as a Service (WaaS) to make it easier for companies to create and manage on-chain wallets.
The trading platform has earned crypto asset provider licenses globally, proving it is committed to compliance, even in the strictest regions. Recently, the exchange received full approval in the UK.
This approval allows Coinbase to offer its services within the UK market under regulatory standards. Similarly, it has also its reach in the European market. The exchange obtained a Cyprus Investment Firm license to offer contracts for differences (CFDs) and other financial products across the European Economic Area.
Notably, its Layer-2 blockchain network, Base, has experienced significant user growth. Coinspeaker that the network added an average of 1.56 million new users per month in 2024, surpassing Ethereum in user adoption.