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Coinbase's Brian Armstrong Compares DEX Integration to Early Amazon, Hints at NFT Ambitions

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Wed, 03/24/2021 - 13:11
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Vladislav Sopov
CEO of Coinbase, leading U.S.-based crypto platform, held a Reddit AMA together with CFO Alesia Haas; the two spoke about NFTs, DeFis and Satoshi Nakamoto
Coinbase's Brian Armstrong Compares DEX Integration to Early Amazon, Hints at NFT Ambitions
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In a Reddit AMA, Coinbase's Brian Armstrong and his colleague answered the most upvoted questions, shared details of Coinbase's upcoming "direct listing" process and covered the hot topics in the industry.

Coinbase's Armstrong shares his takes on DEXs and NFTs

First, Mr. Armstrong answered a number of questions about Coinbase's much-anticipated listing on NASDAQ. He admitted that $COIN stocks will not be available on his "crypto-only" exchange. He also claims that releasing a security crypto token is not on his team's agenda. Then, he was asked about the decentralized exchange segment and the advantages of a centralized exchange like Coinbase compared to modern DEXs.

Coinbase directors held an AMA
Image via Twitter

Mr. Armstrong stressed that his team is focused on providing all customers with better pricing. To achieve this goal, their prime brokerage products can even split up orders between multiple exchanges, including decentralized ones. Therefore, DEXs will be accessible for crypto holders on-boarded by Coinbase.

He compared this approach to that of Jeff Bezos' Amazon in its early days. Just as Amazon started offering third-party products on its platform, Coinbase may introduce seamless DEX integrations to advance customers' experience.

Speaking of NFTs, he once again outlined the "customer-first" policy of his product. Since clients are interested in NFTs (Coinbase wallet is already able to store them), Mr. Armstrong thinks that the addition of NFT-specific functions to the main app is possible:

So, NFTs are exciting.

Homage to Satoshi

As covered by U.Today previously, the mysterious Bitcoin (BTC) inventor, Satoshi Nakamoto, was mentioned in Coinbase's documents as a designated recipient. This eccentric move triggered another wave of speculation on Crypto Twitter.

Related
Cryptocurrency Giant Coinbase Files with SEC to Go Public

Coinbase leaders explained that this was nothing but paying homage to the creator of cryptocurrency.

Thank you Satoshi whoever he, she, they are. It helped create this whole industry.

It should be noted that Coinbase is on the verge of listing on NASDAQ, being the first-ever cryptocurrency company to go public on the stock exchange.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)