Coinbase Chief Executive Officer Brian Armstrong said self-custody wallets are the only way for an open financial system to reach more than 1 billion users. He said alternatives such as the Coinbase App work well in developed markets where rules are clearer, but the United States accounts for just 4% of the world’s population. Armstrong argued that self-custody reduces onboarding friction, can be used globally, and scales through software rather than by setting up regulated entities and local teams in each country. He also said self-custody is a better fit for AI agents that need to access funds and complete tasks, and added that it still matters for economic freedom even in developed countries. Separately, former Base lead Jesse Pollak had previously announced his departure and handed leadership of Base to Jordan Fish. Pollak said Base will be built into a global financial blockchain, with a focus under Cobie on trading, payments, and agents.
Coinbase CEO Brian Armstrong said self-custody wallets are the only way for an open financial system to reach more than 1 billion users.
Armstrong said alternatives such as the Coinbase App work well in developed countries where regulatory rules are relatively clear, but the United States represents only 4% of the global population. He said self-custody can reduce account opening and registration friction, remain available worldwide, and scale through software instead of requiring regulated entities and local teams in every country.
He also said self-custody is a better model for AI agents because it gives them access to funds and lets them complete tasks. Armstrong added that self-custody remains important for economic freedom even in developed markets.
Separately, former Base lead Jesse Pollak had previously announced that he was stepping down and handing Base over to Jordan Fish. Pollak said Base will be built as a global financial blockchain, and that under Cobie it will shift toward three core areas: trading, payments, and agents.
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