Brian Armstrong, the CEO of Coinbase, highlighted that cryptocurrency is not just here to stay but is the future!
Highlighting that crypto “gives people economic freedom, ensuring access to their own money and fair participation in the economy ungated by powerful legacy institutions,” Armstrong detailed, “The industry has turned the page on the unlawful behavior that distracted from its progress; compliant growth is in.”
Crypto Is Not Just Here To Stay: It’s The Future!
Brian Armstrong recently published a new blog called “The future of money is here — and it’s crypto” on Tuesday on the company website.
He explained that after a huge market correction, cryptocurrency was able to witness an increase of 90% in value only this year, accompanied by a surge of 60% in volume during the fourth quarter.
Currently, he noted that globally, 425 people own crypto, and 83% of major financial hubs, as well as G20 countries, are either in the process or have implemented the process of being able to establish regulations that provide certainty for the whole crypto industry.
He opined, “With that kind of scale and momentum, innovation builds on itself,” emphasizing, “Cryptocurrency isn’t just here to stay – it’s the future of money. The industry has turned the page on the unlawful behavior that distracted from its progress; compliant growth is in.”
The Coinbase CEO also added, “Around the world, more than 100,000 merchants and payment rails themselves take payment in crypto, including Paypal and Visa. Among the reasons are lower fees, higher speed, and access to new customers. Last year, the global chain stablecoin transfers approached $9 trillion – more than Mastercard, Amex, and Discover combined. Stablecoins help currencies like the U.S. dollar exist in digital form.”
Armstrong further added, “Countries with low economic freedom, such as Argentina, Brazil, and Nigeria, have among the highest usage rates of crypto payments and adoption as a share of wealth (and are among the biggest populations in the world) … Workers living abroad use crypto to send remittances. About one in nine people globally depend on them. Crypto transfers, on average, are 96% cheaper than other transfers and take 10 minutes compared to up to 10 days.”
At the same time, Armstrong also stressed, “Global financial centers like London, Switzerland, Hong Kong, and Singapore are transforming themselves into crypto hubs to claim the jobs and talent that a more open, more global system will bring. Crypto gives people economic freedom, ensuring access to their own money and fair participation in the economy ungated by powerful legacy institutions – enabling people to build, create, and own their work.”