As American banks discreetly prepare for their transition towards stablecoins, tokenization, and crypto custody alongside Coinbase, CEO Brian Armstrong warns of the risk of losing their edge in the finance of the future.
US Banks Moving Behind the Scenes Towards Tokenization
Armstrong revealed at the DealBook Summit by the New York Times that several major US banks are already piloting projects involving stablecoins, crypto custody, and trading in direct collaboration with the exchange. A subtle yet significant trend: traditional finance is rapidly integrating with blockchain infrastructure.
The shift towards stablecoins is accelerating on Wall Street. Brian Armstrong, CEO of Coinbase, hinted at multiple American banks testing initiatives around stablecoins, crypto custody, and trading. This discreet development signifies a closer connection between traditional finance and blockchain infrastructure.
Coinbase estimates that the stablecoin market could reach $1.2 trillion by 2028. Citi, a partner of Coinbase on tokenized payment projects, envisions a market worth up to $4 trillion by 2030.
The transition is already underway. The GENIUS Act in the US, MiCA in Europe, and various banking experiments are gradually reshaping financial systems.
Larry Fink Validates Bitcoin’s Narrative as Long-Term Insurance
Alongside Armstrong, Larry Fink delivered an equally symbolic message. The once-dismissive BlackRock CEO now describes bitcoin as a hedge against economic, political, and personal instability.
For Fink, the asset is more than just a speculative tool. Despite recent market corrections, he sees bitcoin as a means of protection against monetary devaluation and global debt. Armstrong agrees, stating there is “no chance” of bitcoin dropping to zero.
Coinbase Advocates for the CLARITY Act Vote in the Senate
Coinbase’s CEO is also applying political pressure, urging the Senate to swiftly pass the CLARITY Act, which aims to establish market rules for crypto platforms, token issuers, and intermediaries. The goal is to clarify regulations that hinder American innovation and lead to offshore activities.
With the rise of stablecoins, institutional tokenization, and crypto ETFs, the US stands at a critical juncture. According to Armstrong, banks that fail to adapt will miss the window of opportunity. Those exploring stablecoins now are gaining a lead in the future of finance.
And based on the shared stage with Larry Fink, it seems Wall Street has already embarked on its transition.
