Coinbase CEO Celebrates Stablecoin Act as a Catalyst for a New U.S. Financial Era

Coinbase CEO Brian Armstrong has praised the recent signing of the Stablecoin Act as a groundbreaking moment in American finance, signaling a transformative shift for the financial landscape. This announcement comes from a Daily Hodl report dated October 20, capturing Armstrong’s optimism about the future of digital assets under this new legislation.

On July 18, former U.S. President Donald Trump signed the GENIUS Act into law—a pivotal move toward fortifying the U.S. dollar’s position as the global reserve currency. Designed to elevate the United States as a leader in the evolving digital asset ecosystem, the GENIUS Act introduces stringent regulations for stablecoins, cryptocurrencies whose value is tied to the U.S. dollar. Notably, the law mandates that all stablecoins must be fully backed by liquid assets, such as cash or short-term U.S. Treasury bills.

Financial Revolution Unfolding Under Stablecoin Act

In an exclusive CNBC interview, Armstrong shed light on the profound implications of the Stablecoin Act for global finance. He highlighted how this legislation establishes the foundation for faster and more efficient movement of funds on a global scale.

“The passage of the Stablecoin Act signals nothing short of a financial revolution taking place in the United States,” Armstrong remarked. “Cryptocurrency finally has the legislative backing to modernize the outdated legacy financial system, including payment networks that have been stagnant for decades. This new era opens the door to transaction processing that is instantaneous, globally accessible, and costs as little as one cent per payment.”

Corporate Adoption of Stablecoins Poised to Accelerate

Armstrong also predicted a surge in corporate adoption of stablecoins thanks to the regulatory clarity provided by the Stablecoin Act. He believes this will address longstanding inefficiencies, offering major companies a tangible way to cut costs and streamline operations.

“With clear legislation now in place, Fortune 500 companies will increasingly adopt stablecoins at scale,” Armstrong explained. “Even prior to this law, we saw early signs of this trend taking shape. For example, Coinbase recently partnered with Shopify for stablecoin payments, and major players like Walmart and Amazon have begun exploring their own initiatives. Practically every Fortune 500 company now sees stablecoins as an essential tool for reducing transaction costs and enhancing payment systems.”

Strategic Growth Opportunity for Coinbase

The Coinbase CEO went on to underscore the monumental growth potential for the company in this evolving digital assets landscape. “It’s a clear opportunity to expand our total addressable market (TAM),” Armstrong noted. “We’re uniquely positioned to provide wallet and payment APIs that could power the financial systems of global businesses, bridging traditional and crypto-native industries together.”

This sentiment highlights Armstrong’s ambitious outlook for Coinbase’s innovative role in the mainstream adoption of stablecoin payments, as well as the broader impact on global commerce.

Paving the Way for Financial Evolution

The Stablecoin Act’s introduction marks a crucial turning point for the integration of stablecoins into corporate and economic frameworks. Coinbase’s proactive measures align with this accelerating transformation, where established economic institutions and emerging blockchain technologies converge. Armstrong’s comments echo the belief that stablecoins will redefine global financial systems, enabling faster, cheaper, and more accessible transactions for businesses and consumers alike.

As regulatory clarity sets the stage for stablecoins to thrive, the United States positions itself at the forefront of this digital finance revolution, charting a future that could transform payment networks, business operations, and global commerce forever.