Coinbase CEO: Crypto assets could account for 10% of global GDP by 2030, and Coinbase plans to transform into a financial services application

Coinbase CEO Brian Armstrong said the company plans to transform into a financial services application over the next decade, predicting that crypto assets could account for 10% of global GDP, or more than $10 trillion in on-chain value, by 2030. Brian Armstrong emphasized that Coinbase will work to achieve this goal by expanding its product line, driving globalization, and strengthening compliance. It is currently expanding its diversified services including stablecoin payments, crypto lending, custodial services, and derivatives trading. Stablecoins have become Coinbase's largest revenue driver besides trading. Q1 stablecoin-related revenue soared 50% from the same period last year and 32% from the fourth quarter.