Coinbase Plans US Debit Card Launch, Is ‘Considering’ Margin Trading
Coinbase CEO Brian Armstrong said in an AMA on YouTube the crypto exchange plans to launch a debit card in the U.S. They are considering margin trading. | Source: TechCrunch/Flickr
By CCN: Coinbase CEO Brain Armstrong conducted a live YouTube AMA today from the company’s New York offices. Presumably, he’s in town for blockchain week, which brought him away from the San Francisco headquarters.
Armstrong answered several questions in the session, beginning with one regarding “community trust ratings” for altcoins. Armstrong said that crypto is much like the internet: as more options emerge, better mechanisms of finding the actual high-quality projects need to come along. He pointed out that Yahoo began by manually indexing the web, but later things like PageRank started. He likened the experience to shopping and the issues associated with customer reviews.
“The most important thing to understand about the cryptoeconomy is that we’re not simply righting the wrongs of finance 1.0. We’re creating an entirely new way to access financial services.” @brian_armstrong shares his vision for the future of cryptoeconomy from #consensus2019 pic.twitter.com/NOg3XbEt3V
— Coinbase (@coinbase) May 15, 2019
Margin Trading Eventually Coming to Coinbase Pro
Then a much more interesting discussion came up around margin trading. Armstrong said that as far as he knows, it’s one of the most requested features. He said a lot of exchanges are offering leveraged trading and doing well with it, “so there’s clearly a market demand for that.” When it comes to providing such a product to consumers, there are regulatory issues to consider. Coinbase is aiming to become a global exchange,