Coinbase has confirmed its intention to become a financial super app

• Coinbase CEO Brian Armstrong reiterated the company’s ambitions to provide a full range of financial services.
• He also called the card transaction fees too high.

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CEO of cryptocurrency exchange Coinbase Brian Armstrong stated the company’s intentions to become a financial super app. He stated this in an interview with Fox Business.

The expert also added that payment infrastructure based on cryptocurrencies has obvious advantages over the traditional one.

He is surprised by the fact that until now it is necessary to pay a commission of 2-3% for each transaction with a card. These costs are either borne by the user or passed on to the merchant, but in either case result in an increase in the final price, Armstrong believes.

In his opinion, this is just “data transfer over the internet” that shouldn’t cost that much.

In addition, the CEO of Coinbase commented on the Clarity Act bill, which should create a regulatory framework for cryptoassets that are not stablecoins. According to him, the adoption of the document is an important step for the formation of a competitive marketplace