Coinbase CEO Brian Armstrong has said that the cryptocurrency sector has not received enough recognition for the expanded financial access it has brought to people around the world. Armstrong, who leads the US-based cryptocurrency exchange Coinbase, pointed to digital assets such as stablecoins, decentralized finance (DeFi) protocols, tokenized stocks, and Bitcoin as key innovations changing how individuals manage money, credit, and investments.
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AAPLStablecoins bring the dollar onchain
Armstrong recently outlined how stablecoins—cryptocurrencies pegged to the US dollar—have made it possible for anyone, anywhere to hold a digital version of the dollar without direct reliance on traditional banks. He argued that this solves major accessibility barriers, especially in regions affected by high inflation or limited banking services.
Crypto does not receive enough credit for the financial access it has already unlocked globally. Stablecoins have brought the dollar onchain, making it possible to send and hold a low-inflation currency at any time, for just a fraction of a cent.
Stablecoins provide a way for users in countries with unstable fiat currencies to gain dollar exposure instantly and at low cost. Cross-border transfers also become faster and more efficient, circumventing high fees and delays associated with conventional international remittances.
According to Armstrong, anyone with a smartphone and internet connection can access a crypto wallet and thereby interact with global financial infrastructure, regardless of their participation in the formal banking sector.
Blockchain networks, which process stablecoin transactions, can complete settlements in minutes at any time of day, including weekends and public holidays.
Mini dictionary: Stablecoin, a cryptocurrency pegged to a stable asset such as the US dollar to minimize price volatility and serve as a stable medium of exchange or store of value.
DeFi, Bitcoin and tokenization expand access
Armstrong additionally highlighted the rise of DeFi, which uses blockchain-based smart contracts to offer open lending, borrowing, and other financial functions without intermediaries. Unlike traditional credit systems, DeFi protocols allow users to interact directly and programmatically, often requiring only collateral in the form of digital assets.
DeFi provides anyone with the chance to access credit without reliance on traditional gatekeepers. Meanwhile, tokenized assets and Bitcoin extend new pathways for saving, investing, and wealth preservation beyond existing financial systems.
DeFi replaces conventional requirements—like credit checks and location-based approval—with blockchain-enabled transparency and global reach. Most DeFi lending platforms, however, require collateral rather than relying on credit history.
Armstrong also referenced Bitcoin, describing it as an asset with a finite supply and different monetary properties compared to inflation-prone national currencies. For some people, Bitcoin functions as an alternative store of value outside mainstream banks.
He further discussed tokenized stocks, which are blockchain-based representations of equity assets. These digital versions could make it easier for a broader range of investors to participate in global capital markets, including through fractional ownership, as long as relevant regulations are followed.
Mini dictionary: Tokenization, the process of turning rights to an asset—such as company shares or real estate—into digital tokens on a blockchain, making them easier to trade and divide.
Armstrong acknowledged that while crypto’s infrastructure has progressed substantially, the industry still grapples with issues including regulation, risks related to custody and smart contracts, liquidity gaps, and consumer protection.
