Coinbase plans global crypto app store, international focus
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Leading US crypto exchange Coinbase is refocusing, announcing it will have an “international-first mindset” and create a global app store.
Chief executive Brian Armstrong said that the exchange “is the trusted bridge to the cryptoeconomy today, but we need to become the place people also go to actually participate in the cryptoeconomy.”
To that end the NASDAQ-listed exchange is pledging its customer’s wallet and identity will soon integrate any app built on decentralised crypto rails, and to let users self-custody their crypto in the main Coinbase app.
He said that Coinbase has become so focused on working with regulators in the US, United Kingdom and European Union, it has led to products hyper-focused on the Western world.
“We’re going to flip this approach on its head by shipping more products in international markets on day one, while still partnering with regulators in more established markets to ensure our products are compliant with their local rules,” Armstrong wrote.
He concluded by saying that that the tools most “crypto-forward” people are using today will be used by mainstream customers in a year, and institutions in a few years after that.
“We need to start integrating them today. Coinbase has shown that it can be a great crypto 1.0 company. Our next step is to show that we can be a great crypto 2.0 company.”