CEO Coinbase Suggests That In The Future, Stablecoins Tied To CPI May Become Popular
On October 5, Brian Armstrong, the CEO of Coinbase, and John O’Loghlen, the country director for Australia, had an AMA where they discussed stablecoins, token listings, and other topics. Armstrong talked about stablecoins that are more akin to “flat coins” that might be connected to the CPI or consumer purchasing power.
On October 5, Brian Armstrong, the CEO and co-founder of Coinbase, live streamed an AMA where he answered inquiries about a range of subjects, including stablecoins. John O’Loghlen, Australia Country Director of Coinbase, was a featured guest during the AMA, which was mostly focused on Coinbase in Australia.
Armstrong began the conversation by stating that Coinbase was focused on growing worldwide, as evidenced by the CEO’s numerous prior pronouncements. The two then started answering audience inquiries, one of which was about stablecoins in Australia.
Stablecoins, according to the CEO, were a significant development and ought to be offered in Australia. He mentioned that there might be more stablecoins like fiat coins and that they fluctuate in value, which is really intriguing.
“And over time, we may even see stablecoins that are really more like flat coins. They actually try to move with purchasing power, you know, linked to CPI, which is sort of an economics measure that, you know, basically, if you can buy a McDonald’s hamburger today with, with one of these coins, you should be able to buy McDonald’s hamburger, five years from now with one of these coins”
Self-managed super fund initiatives
One of the more interesting answers was in response to whether the exchange would offer self-managed super funds as well as corporate trustee structures. The officials confirmed that there are efforts underway in this regard. Specifically, Armstrong said that it would offer economic freedom and control,
“We want people to be able to control their own investments and they should be able to invest in crypto to this discussion, important emerging asset class. So we’ve got a couple of efforts underway to try to integrate with some of the biggest super funds out there and make that possible for people to invest directly in crypto and then same thing on the corporate trustees structures.”
He also pointed out that there was similar work done in the United States and referred to a deal with BlackRock. However, he said he could divulge more information.
Coinbase won’t be gatekeeping in regards to listings
The Coinbase executives also said that the exchange did not want to act as gatekeepers but also wanted to follow regional laws and ensure that consumers were protected. The listing process on Coinbase has been the subject of scrutiny, and it’s unsurprising that it would have popped up. They said about this process,
“And so what we’ve tried to do is say we’re going to have listing standards for our centralized exchange where we look really closely at things like cybersecurity risk, make sure these smart contracts. Don’t have some kind of flaw where…customers lose funds. We look at from a compliance point of view, and really diligence the teams behind these points.”
They also said that Coinbase’s policy teams are working on helping create clearer regulation and that there was a 72-point legal analyst for each token. They do note that the idea of tokens being securities or commodities is still an emerging discussion.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
CoinCu News
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CEO Coinbase Suggests That In The Future, Stablecoins Tied To CPI May Become Popular
On October 5, Brian Armstrong, the CEO of Coinbase, and John O’Loghlen, the country director for Australia, had an AMA where they discussed stablecoins, token listings, and other topics. Armstrong talked about stablecoins that are more akin to “flat coins” that might be connected to the CPI or consumer purchasing power.
On October 5, Brian Armstrong, the CEO and co-founder of Coinbase, live streamed an AMA where he answered inquiries about a range of subjects, including stablecoins. John O’Loghlen, Australia Country Director of Coinbase, was a featured guest during the AMA, which was mostly focused on Coinbase in Australia.
Armstrong began the conversation by stating that Coinbase was focused on growing worldwide, as evidenced by the CEO’s numerous prior pronouncements. The two then started answering audience inquiries, one of which was about stablecoins in Australia.
Stablecoins, according to the CEO, were a significant development and ought to be offered in Australia. He mentioned that there might be more stablecoins like fiat coins and that they fluctuate in value, which is really intriguing.
“And over time, we may even see stablecoins that are really more like flat coins. They actually try to move with purchasing power, you know, linked to CPI, which is sort of an economics measure that, you know, basically, if you can buy a McDonald’s hamburger today with, with one of these coins, you should be able to buy McDonald’s hamburger, five years from now with one of these coins”
Self-managed super fund initiatives
One of the more interesting answers was in response to whether the exchange would offer self-managed super funds as well as corporate trustee structures. The officials confirmed that there are efforts underway in this regard. Specifically, Armstrong said that it would offer economic freedom and control,
“We want people to be able to control their own investments and they should be able to invest in crypto to this discussion, important emerging asset class. So we’ve got a couple of efforts underway to try to integrate with some of the biggest super funds out there and make that possible for people to invest directly in crypto and then same thing on the corporate trustees structures.”
He also pointed out that there was similar work done in the United States and referred to a deal with BlackRock. However, he said he could divulge more information.
Coinbase won’t be gatekeeping in regards to listings
The Coinbase executives also said that the exchange did not want to act as gatekeepers but also wanted to follow regional laws and ensure that consumers were protected. The listing process on Coinbase has been the subject of scrutiny, and it’s unsurprising that it would have popped up. They said about this process,
“And so what we’ve tried to do is say we’re going to have listing standards for our centralized exchange where we look really closely at things like cybersecurity risk, make sure these smart contracts. Don’t have some kind of flaw where…customers lose funds. We look at from a compliance point of view, and really diligence the teams behind these points.”
They also said that Coinbase’s policy teams are working on helping create clearer regulation and that there was a 72-point legal analyst for each token. They do note that the idea of tokens being securities or commodities is still an emerging discussion.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
CoinCu News
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