2024

Coin

<p><a href="https://www.thecoinrepublic.com/2022/07/16/brian-armstrong-ceo-of-coinbase-blamed-fast-growth-for-the-downfall-in-ranking-and-trading-volume/" rel="noopener noreferrer nofollow">Brian Armstrong</a>, the CEO of Coinbase, also believes that cryptocurrency payments will gain much traction this decade. He spoke of stablecoins’ ability to propel the use of cryptos in payments. According to Armstrong, stablecoin volumes are rising while technology is increasingly becoming easier.</p>
<h2 class="wp-block-heading" id="h-brian-armstrong-highlights-stablecoins-role-in-crypto-payments"><strong>Brian Armstrong Highlights Stablecoins’ Role in Crypto Payments</strong></h2>
<p>Brian Armstrong described&nbsp;<a href="https://www.thecoinrepublic.com/2024/05/06/stablecoins-estimated-to-surpass-visa-in-tpv-in-q2-is-it-possible/" rel="noopener noreferrer nofollow">stablecoins</a>&nbsp;as one of the most important elements of the future of cryptocurrency payments. He also pointed out that they are being used more frequently, particularly in areas with unstable currencies, thus proving their applicability in daily use.</p>
<p>As Armstrong stated, stablecoins can act as a bridge and open the door between the conventional financial system and crypto, thus making digital payments more convenient.</p>
<p>The CEO also pointed out other opportunities that might expand the use of crypto payments: the emergence of human-readable names, a more effortless onboarding experience, and improved transaction flow. Armstrong has claimed that these innovations will help improve cryptocurrency accessibility for consumers.</p>
<h2 class="wp-block-heading" id="h-armstrong-reflects-on-coinbase-s-shift-from-payments"><strong>Armstrong Reflects on Coinbase’s Shift from Payments</strong></h2>
<p>Brian Armstrong also recalled initially thought cryptocurrency payments would be used for trading, which became more profitable in the first decade. At first, he thought that payments would be the “killer app” for crypto, but trading became the company’s main focus.</p>
<p>Still, Armstrong believes that the initial idea of using crypto for payments will come true in the next few years.</p>
<p>He also explained the company’s background. Coinbase was known as Bitbank during its early years and aimed solely at payments.</p>
<p>The first version of the service enabled users to transfer Bitcoins to other people’s e-mail addresses, which Armstrong posted on his social networks. However, the company changed its path and co-founded Coinbase Beta with Ben Reeves, which aimed to be a trading platform.</p>
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">It's funny to look back on how I thought payments was going to be the first killer app for crypto, and it turned out trading was the best business in crypto for the first 10 years.<br><br>I think payments will probably take off in the second 10 years, now that we have stablecoins…</p>— Brian Armstrong (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1828149942751580524?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 26, 2024</a>
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<h2 class="wp-block-heading" id="h-early-coinbase-aimed-to-build-bitcoin-s-paypal"><strong>Early Coinbase Aimed to Build Bitcoin’s Paypal</strong></h2>
<p>Armstrong recently shared on the Y Combinator website the first job offer Coinbase made to him in March 2012. The posted job was that of a co-founder to build a “<a href="https://www.thecoinrepublic.com/2024/08/01/paypal-billionaire-picks-link-over-xrp-bets-on-this-defi-token-as-solid-newcomer/" rel="noopener noreferrer nofollow">Paypal for Bitcoin</a>,” which shows Armstrong’s early understanding of the potential of cryptocurrencies in payment systems.</p>
<p>The job post represented the current issues of the time, where the job posting revealed that cryptocurrency was still complex to operate.</p>
<p>However, despite the various challenges, Armstrong’s early vision of accepting cryptocurrency payments has not been altered.</p>
<p>He reasons that crypto payments will one day be the norm as the use of stablecoins increases and innovation continues. His further emphasis on innovation shows that Coinbase will be one of the key players in this shift.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/27/coinbase-ceo-brian-armstrong-sees-stablecoins-leading-crypto-payment-adoption/" rel="noopener noreferrer nofollow">Coinbase CEO Brian Armstrong Sees Stablecoins Leading Crypto Payment Adoption</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Coinbase CEO Brian Armstrong Sees Stablecoins Leading Crypto Payment Adoption

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