Coinbase CEO: Plans to become a leading financial services application in the next decade

According to CNBC, Coinbase CEO Brian Armstrong stated that the company plans to transform into a leading financial services application within the next decade, as cryptocurrency is eroding financial services and money market funds, real estate, securities, debt, and more will all enter the blockchain field. Brian Armstrong emphasized that Coinbase is committed to achieving this goal by expanding its product line, promoting globalization, and strengthening compliance. Currently, it is expanding its diversified services including stablecoin payments, cryptocurrency lending, custody services, and derivative trading. Stablecoins have become Coinbase's largest revenue driver after trading, with Q1 stablecoin related revenue soaring 50% compared to the same period last year and 32% compared to the fourth quarter.