Coinbase Calls for Crypto to Take Over Traditional Finance


Coinbase, one of the top US crypto exchanges, is urging the industry to transition from traditional finance to the new digital asset market.

The company made their case in a recent Twitter thread, pointing out that if all the crypto users on the planet were one nation, it would be the third largest.

They highlighted the use cases of crypto, such as its ability to hedge against inflation in developing countries, the efficiency of crypto remittances, and its potential to provide effective humanitarian aid.

“Stablecoins like USDC, which is held by 1.6 million people and is pegged to the US dollar, are less inflationary options.”

Coinbase also suggested that the US should take a leading role in the industry, committing to driving innovation with existing regulations.

“The countries creating common sense legislation are positioned to become industry leaders. Many are enacting regulations aimed at protecting users while enabling innovation, including the UK, EU, and Japan. America should do the same.”

“Crypto technology can help update our aging financial infrastructure, giving American customers more financial freedom and institutions new tools to drive innovation. Coinbase is committed to being part of the solution to update our financial system.”

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Featured Image: Shutterstock/Vitalii Bashkatov

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