Coinbase would rank 21st largest U.S. banks

CEO of Coinbase, Brian Armstrong, underlined the growing financial imprint of the company, comparing its assets to large banks and American brokerage houses.

In a job On X, Armstrong said Coinbase now has around $ 420 billion in customer assets.

This would make it the 21st largest bank in the United States by total assets. If it is classified as a brokerage, Jamming Would be classified as the eighth larger by assets under management.

Payments via Coinbase

Armstrong also addressed the role of Coinbase in payments, citing the 30 dollars billions stable The transactions dealt with last year, although he recognized that not all of them were for goods and services. He stressed that crypto reshaves traditional finances by merging investments, payments and loans in a single system.

“The fact is that with the crypto, the line between these categories is blurred,” wrote Armstrong.

He argued that the traditional separation of banking functions was exceeded and that a modern financial system should offer transparent integration between spending, investment and yield.

Armstrong predicted that, as the global economy moves to cryptographic infrastructure, financial systems will become more effective, reducing transaction costs and increasing economic freedom.