Brian Armstrong Wants Coinbase To Move Forward With A Variety Of Services

Brian Armstrong the CEO of the large and popular cryptocurrency exchange Coinbase, said that the firm will be focusing less on trading and more about adoption during the coming years. He said that during an AMA (Ask Me Anything) session that took place on July 19.

Coinbase To Focus On Crypto Adoption

In a recent AMA session, the CEO of Coinbase explained that the firm is going to be focusing on adoption in the next five years. They consider that Coinbase is not only a crypto trading service provider but also a company that has the responsibility of driving crypto adoption.

In addition to it, he explained that they are working so as to help grow the cryptocurrency economy by reaching new users, expanding the community and connecting individuals. One of the projects that Coinbase is now working on is Coinbase Earn that focuses on educating the crypto community about different virtual currency assets.

About it, he commented:

In five years I hope that we will have it even further beyond that. Therell be thousands of companies thatll be crypto first.

At the same time, Coinbase is also helping individuals that left Coinbase to run their own virtual currency projects. The CEO mentioned that he supports former employees to build new companies and offer new services. Furthermore, he claims that he wants individuals to learn from Coinbase and spread their knowledge to help the market adopt virtual currencies.

Coinbase has also been expanding in terms of the number of digital currencies offered. The exchange is working in order to remain competitive due to a large number of firms that are innovating in the space. Finally, they are also offering services to institutional investors that want to stake digital currencies such as Tezos (XTZ) or MakerDAO (MKR).

There are several companies in the industry that are trying to offer more than just crypto-trading services to users. One of these firms is Binance, a competitor of Coinbase in different jurisdictions. The largest crypto exchange in the world in terms of trading volume is expanding its services as well. They are now offering educational content about digital assets, they are performing research activities about the crypto market and they are also expanding their trading activities further with a blockchain network and a decentralized exchange.

As reported by CoinMarketCap, Coinbase Pro is the 33rd largest crypto exchange in the market in terms of trading volume. In the last 24 hours, the platform handled $345 million in traded assets.

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Tags: Coinbase, Trade, Binance, Chief executive officer, Reddit, Adoption, service, digital currency exchanger, Virtual currency