Coinbase plans on becoming the New York Stock Exchange of Crypto Securities

CEO Brian Armstrong has envisioned the future of Coinbase similar to New York Stock Exchange. This is partly true as well because NYSE trades stocks around the world whereas Coinbase trades cryptocurrency around the world. As we mentioned earlier, it is the largest platform for cryptocurrency trading. Coinbase users have started to trade directly in cryptocurrency as well apart from fiat money.

Brian Armstrong mentioned that Coinbase should not be limited to just a platform for crypto exchanges. Rather, it will create its own token which will become an alternate investment system which remains as an equity to the company. Coinbase CEO further added that “tokenized future could see Coinbase host hundreds of tokens within “years” and even potentially “millions” in the future”.

However, we would like to remind you that Coinbase only supports 5 cryptocurrencies at the moment. Therefore, its CEO’s claim to support millions of tokens will take several years to make it happen. Also, Coinbase’s path to becoming NYSE of Cryptocurrencies will also be determined by the regulations. Many in the U.S. have openly told that the lack of regulations for cryptocurrencies in the country has discouraged startups. This means that most of the innovations are happening in the other countries where the regulations are straightforward and their government is encouraging those innovations as well.