Coinbase chief executive Brian Armstrong says major US banks risk falling behind as the country’s regulatory and political environment shifts in favor of digital assets.
Speaking at the New York Times DealBook Summit, Armstrong says some of the largest banks in the country are already partnering with Coinbase on pilots involving stablecoins, custody and trading.
“The best banks are leaning into this as an opportunity,” Armstrong says, adding that “the ones who are fighting it are going to get left behind.”
Armstrong does not specify which banks are involved, but says the pilots are active now as institutions explore new infrastructure for tokenized assets and digital dollars.
He appeared on stage with BlackRock CEO Larry Fink, whose comments mark a continued shift in his public view on digital assets.
In 2017 Fink described Bitcoin (BTC) as “an index for money laundering and thieves.” BlackRock now oversees the largest Bitcoin exchange-traded fund. “I see a big, large use case for Bitcoin,” Fink says.
Fink notes that digital wallets globally hold approximately $4.1 trillion, primarily in stablecoins, and says tokenizing other asset classes will make that capital more easily accessible.
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