Coinbase CEO: Flatcoins Are 'New Thing On Horizon' To Revolutionize Crypto World

Coinbase Inc. COIN CEO Brian Armstrong projected the rise of "flatcoins" as the next evolution in the world of stablecoins.

With the crypto industry constantly evolving, Armstrong believes flatcoins, tied to purchasing power or the Consumer Price Index (CPI), could be an innovative step forward.

This revelation comes just ahead of the much-anticipated Benzinga's Future of Digital Assets conference on Nov. 14, which aims to shed light on the most recent trends and innovations in the digital assets space. Armstrong's comments are expected to resonate with many thought leaders at the conference, emphasizing the importance of innovation in the crypto sphere.

"I think stablecoins are a really important stepping stone," Armstrong told Yahoo Finance. "We have now US dollars running on crypto rails that are more efficient, more global."

He further highlighted the significance of crypto in updating the global financial system, noting that 67% of Americans believe the current financial system requires a major overhaul.

When questioned about other ventures at Coinbase, Armstrong mentioned the launch of "base," their layer two solution designed to help blockchains scale.

He also spoke about the company's efforts to reduce transaction costs and confirmation times, aiming to streamline the payment process.

The term "flatcoin," as Armstrong explains, is "a new thing on the horizon. There's a couple teams working on it. We're not building something in that realm yet, but we're interested in it."

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Discussing the broader landscape of crypto, Armstrong touched upon the varying regulatory stances across the globe. He mentioned that "83% of the G20 countries now have this crypto legislation either already in place or in progress." However, in the US, the road to regulation appears to be multifaceted, with potential pathways through the courts, Congress, or the CFTC.

Evolving Role Of CEOs

Armstrong also shared his experiences in communicating with regulators and politicians, emphasizing the evolving role of a CEO. He highlighted the growing importance of the crypto community in political discussions, suggesting that by 2024, crypto policies might play a crucial role in influencing voters.

Armstrong concluded by hinting at the potential positive stance of future presidential candidates towards crypto, which could challenge existing policies and pave the way for America to reaffirm its position as a technology leader.

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