Coinbase CEO: Plans to become a leading financial services application in 5-10 years, and plans to focus on developing stablecoin business

Coinbase CEO Brian Armstrong stated that the company plans to transform into a top financial services application within the next decade, as cryptocurrency is gradually consuming financial services, with money market funds, real estate, securities, debt, and other areas expected to enter the blockchain domain. Brian Armstrong emphasized that Coinbase will be committed to achieving this goal by expanding product lines, promoting globalization, and strengthening compliance. Currently, the company is expanding diverse services including stablecoin payments, crypto lending, custody services, and derivatives trading. Stablecoins have become Coinbase's largest revenue driver besides trading, with Q1 stablecoin-related revenue surging 50% compared to the same period last year and 32% compared to the fourth quarter. (CNBC)