14 Feb, 2025

Coinbase CEO Foresees Blockchain Powering Global Economy, Reports Record Revenue

Key Takeaways● Coinbase CEO Brian Armstrong predicts blockchain will power up to 10% of the global economy by 2030.● Coinbase posts record Q4 revenue of $2.3 billion, driving a 10% stock surge.● U.S. crypto regulations under the Trump administration signal a shift in government stance.● Coinbase expands into Argentina and India, strengthening its global presence.● Stablecoin legislation and market structure reforms could reshape the crypto landscape.Coinbase CEO Brian Armstrong envisions a world where blockchain technology underpins a significant portion of the global economy. Speaking on the company's Q4 2024 earnings call, he projected that 10%—possibly even 25%—of global GDP could be "on crypto rails" by the decade’s end. With the World Bank valuing global GDP at over $100 trillion, that would mean more than $10 trillion in economic activity operating on-chain.The New Internet: Blockchain’s EvolutionArmstrong likened the current crypto revolution to the internet boom of the early 2000s. Just as businesses had to embrace the web to remain competitive, he argues that blockchain will become equally indispensable. “Onchain is the new online,” he declared, reinforcing Coinbase’s role as a primary gateway for businesses integrating blockchain technology.This vision is underscored by Coinbase’s stellar Q4 performance, with an 88% quarter-on-quarter revenue surge, netting $2.3 billion in earnings—its strongest quarter in over a year. The stock responded with a 10% jump, reflecting investor confidence in the company’s trajectory.Regulatory Shifts and the Trump Administration’s Crypto StanceArmstrong also praised the U.S. for its evolving regulatory framework, calling this “the most pro-crypto Congress we’ve ever seen.” With Trump’s administration actively exploring stablecoin legislation and market structure reforms, Coinbase sees an opportunity to help shape policies that could serve as a model for other nations.The company has been vocal in its support of Trump’s approach to digital asset regulation, with Armstrong engaging political leaders to push for favorable policies. Coinbase’s influence was evident in its ongoing battle against Operation Choke Point 2.0, with the Trump-appointed Crypto Czar now taking Coinbase’s concerns seriously.Global Expansion and Future AmbitionsBeyond the U.S., Coinbase continues its international push, expanding into Argentina and reestablishing ties in India. Meanwhile, the rise of meme coins has helped counter speculation that Coinbase’s token listings are losing impact.With a clear focus on revenue growth, infrastructure scaling, and regulatory engagement, Coinbase is positioning itself at the forefront of what it sees as a new era in cryptocurrency adoption.

10 Feb, 2025

Ripple Teams With Unicâmbio to Power Brazil-to-Portugal Payments

Blockchain company Ripple has launched a partnership with Portuguese currency exchange provider Unicâmbio.The collaboration, announced Monday (Feb. 10), is designed to support instant cross-border payments between Portugal and Brazil through Ripple Payments, the company’s digital-asset-focused cross-border payments system.According to a Ripple news release, this marks the first time the company’s payment solution has been offered in Portugal, a development that both expands Ripples footprint in Europe and bolsters the Portugal-Brazil payments corridor.“Our partnership with Unicâmbio is a significant milestone in Ripple’s European expansion. Portugal has developed a thriving crypto ecosystem so we are delighted to open up our payments solution to partners there,” said Cassie Craddock, Ripple’s managing director for the U.K. and Europe.“By connecting our payment networks in Portugal and Brazil we are facilitating faster, more cost-effective cross-border payments, while strengthening the economic bridge between these two major markets.”Adriana Jerónimo, executive board member at Unicâmbio, noted that Brazil and Portugal share strong cultural and economic ties, with substantial amounts of money moving between the two countries.“By leveraging blockchain technology we’re transforming money movement between the two nations,” said Jerónimo. “Ripple’s crypto-enabled payments solution enables near-instant settlement and drastically reduces costs compared to traditional payments channels, delivering real value to our customers.”Ripple already had a presence in Brazil, the release notes, with the company teaming with the likes of Travelex Bank in 2022 and Mercado Bitcoin, Latin America’s largest cryptocurrency exchange, joining Ripple’s network late last year.In other blockchain news, PYMNTS wrote last week about America’s new exploration of stablecoin regulation, and how it could transform global payments.This came after House Financial Services Committee Chairman French Hill (R-Ark.) and Digital Assets, Financial Technology and Artificial Intelligence Subcommittee Chairman Bryan Steil (R-Wis.) introduced a discussion draft for a bill that would create a framework for issuing and operating dollar-denominated payment stablecoins.“Building upon our work on digital assets in the last Congress, our discussion draft will provide clarity for payment stablecoins and ensure a federal and state path for stablecoin issuers,” Hill said.“The push for stablecoin regulation underscores a broader recognition of digital assets’ role in modern financial ecosystems,” that report said. “As the regulatory landscape takes shape, the collaboration between the House and Senate will be instrumental in determining how stablecoins fit into the evolving framework of U.S. financial regulation.”