With client funds totaling approximately $420 billion, Coinbase could be considered the 21st largest bank in the U.S., according to co-founder and CEO Brian Armstrong.

If you think of Coinbase like a bank, we now hold about $0.42T in assets for our customers, which would make us 21st largest bank in the US by total assets, and growing.

If you think of us more like a brokerage, we'd be the 8th largest brokerage today by AUM.

If you think of us…
— Brian Armstrong (@brian_armstrong) February 7, 2025

Coinbase’s Role in Finance

Armstrong noted that as a brokerage firm, Coinbase would rank eighth in terms of assets under management. Additionally, he highlighted the platform’s role as a payments company, citing $30 trillion in stablecoin transfers processed in 2024 alone.

“The reality is that cryptocurrencies blur the lines between these categories. In TradFi, they are separated for various reasons, not all of which are justified. […] In the new financial system, a single base account will handle all these functions,” Armstrong stated.

He predicted that over time, more than 8% of global GDP would “run” on digital assets, reducing transaction costs and increasing economic freedom.

In April 2024, Coinbase launched a $15 million television ad campaign contrasting TradFi with cryptocurrencies.