Join Wall Street! Coinbase CEO reveals that it is working with several major U.S. banks to promote cryptocurrency pilots

Source of article: Zhitong Finance Network

Coinbase Global (COIN.US) CEO Brian Armstrong said on Wednesday that his cryptocurrency exchange is working with a number of large U.S. banks to advance pilot projects focusing on stablecoins, custody services and trading businesses.

“Top banks are taking this as an important opportunity and actively deploying it,” Armstrong said at the New York Times Dealbook Summit, but did not disclose the specific names of the partner banks. He added that as Wall Street’s acceptance of the digital asset ecosystem continues to grow, “those who resist will eventually be left behind.”

BlackRock (BLK.US) CEO Larry Fink, who has been skeptical of cryptocurrencies, attended the event with Armstrong. Fink pointed out: "People hold Bitcoin not only out of concerns about personal safety, but also out of concerns about financial security - it has become a safe-haven asset." BlackRock currently manages the world's largest spot Bitcoin ETF - Bitcoin ETF-iShares (IBIT.US).

Coinbase shares closed up more than 5% on Wednesday, driven by the recent continued rebound in cryptocurrency prices.

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