- Coinbase CEO Brian Armstrong stated that a top-tier bank executive now views crypto as an “existential” priority to avoid being bypassed by tokenised payments.
- Coinbase withdrew support for the CLARITY Act, stalling the crypto bill over disagreements regarding stablecoin rewards and expanded SEC oversight.
- The firm maintains that blockchain tech is essential for global financial inclusion, despite the current political deadlock with the US Senate.
Coinbase CEO Brian Armstrong said a senior executive at one of the world’s 10 largest banks told him in Davos that crypto is now the bank’s “number one priority” and that it sees the shift as “existential.”
Armstrong shared the comment in a post on X during the World Economic Forum. He did not name the bank or the executive, but said many finance leaders he met were actively looking for ways to get involved in crypto rather than treating it as a fringe sector.
He said the pressure is growing because stablecoins and tokenised assets can move value directly, which could reduce the role of traditional banks in payments and settlement.
Related: Ripple CEO: Crypto Set to Smash Records in 2026
In his view, firms such as asset managers or fintechs could eventually offer transfers and access to tokenised securities without relying on bank infrastructure or clearing delays.
Armstrong also argued tokenisation could help reach an estimated 4 billion adults worldwide who do not have access to high-quality investment products.
Coinbase and the CLARITY Act
The news comes as Coinbase is trying to work out a deal with the US Senate.
More specifically, a few days ago, Coinbase and US lawmakers fell out over the Digital Asset Market CLARITY Act, a major crypto bill meant to set clearer rules for stablecoins and DeFi.
The firm pulled its support just before a key Senate vote, stating that the Senate version had changes it couldn’t accept, like limits on stablecoin rewards for users, broader SEC authority over crypto markets, and weaker protections for decentralised finance.
Coinbase CEO Brian Armstrong attacked the draft publicly, which helped stall momentum, though in the X post he signaled his willingness to work with the Trump administration.
We want to keep the U.S. as the crypto capital of the world. We’ve had countless meetings with key players in DC and Davos over the last two weeks. There’s lots of hard work being done to reach a draft that’s win-win for all parties, but especially consumers. It’s created some healthy debate, and I can say, of the bank CEOs that I met with this week, most of them are actually very pro crypto and are leaning into it as an opportunity (some aren’t quite there yet).
Brian Armstrong, Coinbase Founder and CEO.The White House has urged the sides to resolve differences, but has not treated it as an urgent priority while other agendas compete for time.
Related: Bitcoin Whipsaws Higher After Trump Signals Greenland Deal, Drops EU Tariff Threat
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