During an appearance on CNBC’s Crypto World, the CEO of Coinbase stated that big tech companies will be the catalyst for mainstream adoption of cryptocurrencies.
Brian Armstrong recalled how the Internet has developed – its adoption has grown gradually, large companies have gradually seen the prospects, and now almost every business on the planet uses the capabilities of the global network. And it will be the same with cryptocurrencies:
“The cryptocurrency industry will develop in a similar vein. Big tech companies will play their part. We see BlackRock, the largest asset management company in the world, integrating with the Coinbase crypto exchange to give users access to digital assets. Meta is another great example. Everything that is happening suggests that Coinbase will continue to develop not only as a platform for retail traders.”
The CEO of Coinbase noted that the cryptocurrency market is currently experiencing hard times, but this is just another cycle, and cryptocurrencies will rise again in the future. Including thanks to the development of blockchain and staking, especially after the transition of Ethereum to Proof-of-Stake and the development of second-level solutions.
Armstrong has previously said that Coinbase is changing its business model and wants to get about half of its revenue from subscriptions and services, not transaction fees.