Coinbase is one of the most popular cryptocurrency exchanges available. The exchange seems to want to do bigger things, as Coinbase CEO Brian states. The CEO alluded to the expanding Coinbase detailing that the company is ready for the next level.
The go-to crypto-trading platform
The CEO made the comments at the TechCrunch Disrupt SF event in San Francisco. According to Brian Armstrong, the company intends to become the go-to platform for crypto trading. The cryptocurrency market is expanding at a high speed and the company wants to match the pace. He believes that the future of crypto will contain millions of cryptocurrencies. The company should be in position to cater to all the tokens.
In this respect, he said:
“It makes sense that any company out there who has a cap table… should have their own token. Every open source project, every charity, potentially every fund or these new types of decentralized organizations [and] apps, they’re all going to have their own tokens. We want to be the bridge all over the world where people come, and they take fiat currency, and they can get it into these different cryptocurrencies.”
The NYSE inspires the expanding Coinbase
Cryptovest reports that the company is already able to facilitate trading of securities tokens. The online cryptocurrency news outlet details that the exchange can offer trades in five different crypto pairs. In coming years, the CEO hopes the exchange will be able to support all trading pairs available. In the long run, the company hopes to function like the New York Stock Exchange (NYSE).
Mr. Armstrong is also aware of the regulatory problems cryptocurrencies are facing at the moment. He believes many would-be investors are not in the business because of regulatory absence. He says:
“We do feel a substantial subset of these tokens will be securities. Our approach has always been to be the most trusted [cryptocurrency exchange] and the easiest to use. So we want to be the legal compliant place where you can start to trade these tokens that are classified as securities.”
Recent news reports show that an expanding Coinbase is making headway in Africa. The exchange seeks to exploit the market which lacks active crypto companies.