Coinbase, listed on Nasdaq, the largest cryptocurrency exchange in the United States, announced plans to expand its business internationally today.
“We see cryptocurrencies rapidly moving from their original use case – trading bitcoin – to trading thousands of new assets, as well as adopting new use cases such as Decentralized Finance (DeFi), NFT, Smart Contracts, Decentralized Autonomous Organizations (DAO). and much more. A lot of this is relatively new and there are difficulties to use, but I see this as the future of the industry. ” – Coinbase CEO Brian Armstrong wrote on the company’s blog.
In a press release, the company plans to launch an online store for third-party cryptocurrency apps to expand its business, which will be available through the Coinbase app. It is noted that the new product is currently under development.
“Apple hasn’t tried to create all iPhone applications, it has given developers more options and provided mobile users with an easy way to access innovative new applications. We need to do the same in the cryptocurrency sector. ” – wrote Armstrong.
Armstrong also intends to shift Coinbase’s current focus on the US and adopt a “mindset first of all by supplying more products to international markets, while continuing to work with regulators in more established markets to ensure that products meet their local requirements.”
Armstrong’s comments came amid growing attention to crypto exchanges from regulators around the world.