Web3 has gained traction in the broader cryptocurrency market and beyond, with more companies entering the ecosystem.
The CEO of cryptocurrency exchange Coinbase Brian Armstrong revealed in a recent interview that he believes crypto is fundamental to the growth of Web3.
According to Armstrong, the cryptocurrency space is getting stronger as the adoption rate increases globally. He said;
“Unlike in past crypto cycles where we might have had “summers” and “winters,” crypto is working, we’ve got major use cases now. Outside of people just trading it, DeFi has tens of billions of dollars locked up in it. NFTs have been a massive trend and continuing to grow. People are building gaming and social media apps, DAOs and identity systems.”
Armstrong added that crypto will not be only an investment but will be the backbone behind the new financial system. He said;
“Our fundamental belief is that crypto, it’s not just going to be an investment, although that’s a massive use case and the first pillar of our strategy, it’s not just going to be a new financial system, which is the second pillar of our strategy. And we have lots of products helping make that happen. It’s also going to be the new default way that people build applications on the internet. It’s the new application platform. That’s what people are calling Web 3.0, and they’re going to be building all kinds of applications, not just financial service applications.”
Armstrong said Coinbase is perfectly positioned to drive the growth of Web3 globally. He added that the company’s goal is really to be the primary account where people access the crypto economy and Web 3.0.
The Coinbase CEO concluded that his company has a great customer base and brand infrastructure that integrates nicely. Thus, making crypto easy, trusted, and safe to use.