Emre Yumlu 
Coinbase CEO Brian Armstrong has revealed one of the company’s most ambitious plans yet: the creation of a crypto-powered financial super app designed to rival — and potentially replace — traditional banks. The concept aims to deliver everything from credit cards and payments to Bitcoin rewards and savings products under a single ecosystem.
Coinbase Goal: Challenging the Legacy Banking Model
In an interview with Fox Business, Armstrong explained that Coinbase’s long-term goal is to become the all-in-one financial platform for its users.
“Yes, we want to be a super app and provide all types of financial services,” Armstrong said. “Our ambition is to become people’s primary financial account, and I believe crypto has the right to achieve that.”
He also criticized the inefficiencies of the current banking system, with high transaction costs topping the list. “It really boggles my mind that we’re paying 2–3% every time we swipe a credit card. At the end of the day, it’s just data moving across the internet — it should be free or close to free.”
A Credit Card with Bitcoin Rewards by Coinbase
As part of its roadmap, Coinbase is working on new financial products, including a credit card that could offer up to 4% back in Bitcoin. Armstrong emphasized that the company’s ultimate mission is to provide a true alternative to traditional banks, giving users more value for their everyday transactions.
Regulation Opens the Door to Expansion
The push for a crypto super app comes at a time when regulatory clarity in the United States is gaining momentum. Armstrong welcomed developments such as the GENIUS Act and the advancement of broader market structure legislation in the Senate, noting that the industry has reached a point of no return:
“The train has left the station when it comes to regulatory clarity,” he said.
Coinbase has already partnered with major banks like JPMorgan and PNC, but Armstrong highlighted that these institutions sometimes operate under different policy frameworks. He argued that all market players should compete on a level playing field.
DeFi Integration and Higher Yields on USDC
In addition to expanding its financial services, Coinbase is bringing decentralized finance into its platform. By integrating Morpho, a DeFi lending protocol, the exchange now enables users to lend USDC directly through the app without third-party platforms. This integration offers yields of up to 10.8%.
The move, however, has sparked debate in the U.S. since the GENIUS Act placed restrictions on yield-bearing stablecoin products. Banking lobby groups have criticized such integrations as exploiting regulatory loopholes. Coinbase, on the other hand, has defended its strategy, arguing that stablecoins are not a threat to lending but rather a modern alternative to outdated banking models.
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