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Coinbase CEO: DeFi is the future for the crypto industry

In a blog post, American cryptocurrency exchange Coinbase’s CEO Brian Armstrong shared his views. He talked about the future of the exchange, which went public recently, as the demand for DeFi products and services grows.

He wrote:

“We’re seeing crypto quickly mature … to the trading of thousands of new assets, and the adoption of new use cases including DeFi, non-fungible tokens (NFT), smart contracts, decentralized autonomous organizations (DAOs) and more.”

He also added that just like Coinbase eased people’s accessibility to Bitcoin for the first time, and the exchange would like to do the same for DeFi economy. Currently, the CEO expects to add assets to the platform more quickly and broaden its geographic focus to ship products that are ‘globally ready’. It’s also thinking towards creating a crypto app store similar to Apple’s app store.

As far as the things for the immediate future goes, Armstrong stated that his exchange would cut down its legal review for asset listing. Coinbase expects it to be reduced from 70 questions to 12 questions, thereby creating a more efficient compliance and security review process.

In addition, Coinbase will soon be constructing an ‘experimental zone for new assets’ for ensuring that the company could provide a clearer image of risks for customers.

The CEO also promised to provide more products to new international markets, alongside working with regulators “in more established markets.” He also added that “any app built on decentralized crypto rails will be accessible to users of the Coinbase app.” It’s evident that Coinbase wants to continue its leadership position as the industry is moving towards other functionality enabled by crypto and blockchain technologies.

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