Brian Armstrong: Coinbase would rank 21st largest U.S. banks

Coinbase CEO Brian Armstrong highlighted the company’s growing financial footprint, comparing its holdings to major U.S. banks and brokerages.

In a post on X, Armstrong stated that Coinbase now holds approximately $420 billion in customer assets. 

This would make it the 21st largest bank in the U.S. by total assets. If categorized as a brokerage, Coinbase would rank as the eighth largest by assets under management.

Payments via Coinbase

Armstrong also touched on Coinbase’s role in payments, citing the $30 trillion in stablecoin transactions processed last year, though he acknowledged not all were for goods and services. He emphasized that crypto is reshaping traditional finance by merging investment, payments, and lending into a single system.

“The point is, with crypto the line between these categories is blurring,” Armstrong wrote. 

He argued that the traditional separation of banking functions is outdated and that a modern financial system should offer seamless integration across spending, investing, and earning yield.

Armstrong predicted that as more of the global economy shifts to crypto infrastructure, financial systems will become more efficient, lowering transaction costs and increasing economic freedom.