Brian Armstrong wants to replace banks with the super app Coinbase.

Coinbase CEO Brian Armstrong has stated that his company’s most ambitious goal is to replace traditional banks by turning Coinbase into a full-service cryptocurrency super app.

Yes, we want to become a super app and provide all kinds of financial services. We want to become the main financial tool for people, and I think that kriptovalyuta has the right to do so,» Armstrong said.

He criticized the current banking system, calling it outdated and inefficient, and pointed to high transaction fees as one of the main problems.

«It’s simply mind-boggling. Why do we pay two or three percent every time we swipe a credit card? It’s just data transfer over the internet. It should be free, or almost free,» Armstrong said.

Coinbase’s CEO said the company’s long-term goal is to provide better services across the board, including issuing a credit card with a 4% fee in Bitcoin rewards.

Ultimately, we want to replace the bank for people,” Armstrong said.

Coinbase has already integrated the Morpho decentralized lending protocol into its app, allowing it to lend USDC directly without using third-party platforms. DeFi.

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