Coinbase CEO Brian Armstrong identifies stablecoin payments as the company's primary growth engine. This strategy aims to diversify revenue streams beyond traditional crypto trading fees.
Armstrong told Bloomberg the company is partnering with banks and fintechs to move payment activities like cross-border remittances onto stablecoins. He projects the stablecoin market will reach $3 trillion by 2030. The current market valuation stands at $300 billion.
Stablecoin-related activities accounted for 24% of Coinbase's second-quarter revenue. This figure represents a sequential increase from the previous quarter.