Coinbase CEO: Crypto Can Unlock Financial Access Worldwide

Coinbase CEO Brian Armstrong believes cryptocurrency doesn't get enough credit for its potential to unlock financial access worldwide. He points out that stablecoins allow anyone, anywhere to access a low-inflation currency and send it 24/7 for a fraction of a cent. Additionally, decentralized finance (DeFi) applications give anyone access to credit and unbanked individuals access to financial services.

Armstrong also highlights the potential of tokenized stocks, which could expose four billion unbrokered people to the U.S. stock market. This could be a game-changer for companies like Robinhood, which has launched its own blockchain to support tokenized stocks. As of late July, tokenized real-world assets on Robinhood Chain reached $70 million.

Those interested in profiting from the rise of stablecoins can consider investing in Circle, which generates revenue by collecting interest on cash and U.S. Treasuries it holds to back its own stablecoins. The market's largest stablecoins are Tether (USDT) and USD Coin (USDC), with Tether more widely used overseas and USD Coin leading the stablecoin market in the U.S.