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The CEO of Coinbase indicates that major banks now perceive cryptocurrency as a significant threat to their operations.
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
Brian Armstrong and Larry Fink (David Dee Delgado/Getty Images)
What to know:
- Coinbase CEO Brian Armstrong mentioned that a senior executive at one of the top 10 largest banks globally informed him that crypto has become the bank’s “number one priority” and is considered an “existential” matter.
- During his time in Davos, Armstrong emphasized the significance of asset tokenization and stablecoins, arguing that they have the potential to expand investment access for billions while posing a threat to traditional banking systems.
- He characterized the Trump administration as the most crypto-friendly government worldwide, supporting initiatives such as the CLARITY Act, and predicted that AI agents will increasingly opt for stablecoins for transactions beyond standard banking frameworks.
While attending the World Economic Forum in Davos, Coinbase CEO Brian Armstrong relayed that a high-ranking official at one of the world’s ten largest banks told him that crypto is now their “number one priority” and viewed as an “existential” concern.
Armstrong’s post on X highlighted a shift in the engagement of traditional financial institutions with crypto. This comment reflects the increasing urgency among conventional banks to adapt to crypto infrastructure, especially as global regulators are nearing the establishment of clearer guidelines for digital assets.
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Just wrapped up our week in Davos. I don't love wearing a suit every day, but sometimes it has to be done!
Davos is a unique place – world leaders and CEOs (and lots of crypto companies!) all come together in a small mountain town in Switzerland for a few days. It’s a productive… pic.twitter.com/0lO5TqRhkL
— Brian Armstrong (@brian_armstrong) January 24, 2026
Armstrong did not disclose the bank or the executive, but mentioned that many financial leaders he interacted with during the weeklong event were not only receptive to crypto but were actively exploring avenues to engage with it. “Most of them are genuinely pro-crypto and are embracing it as an opportunity,” he noted.
For banks that depend on traditional payment systems, crypto presents both a challenge and a chance.
Read more: Bank of America CEO says stablecoins could drain trillions in bank deposits
Tokenization push
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As stablecoins and tokenized assets gain traction, the risk of disintermediation increases. It is conceivable that a global asset manager or fintech company could eventually bypass traditional banks entirely by providing direct access to tokenized securities or stablecoin-based transactions — transferring value instantly, without clearing delays or intermediaries (a fundamental aspect of crypto).
Armstrong stated that tokenization was among the most talked-about trends at Davos, extending beyond stablecoins to equities, credit, and various financial instruments.
He highlighted the estimated 4 billion “unbrokered” adults worldwide who lack access to quality investment opportunities. Tokenization, he argued, could help bridge that gap.
"Expect significant advancements here in 2026," he added.
Regulation CLARITY
The Coinbase CEO also observed that political backing for crypto in the U.S. appears to be gaining strength.
He referenced the Trump administration’s efforts toward crypto-centric legislation, including the CLARITY Act, which seeks to establish a regulatory framework for digital assets. Armstrong did not mention his firm’s decision to retract support for the crypto market structure bill at the last moment, after which the hearing was postponed.
Read more: Here’s why Coinbase and other companies soured on the major crypto bill
Armstrong described the administration as “the most crypto-forward government globally” and asserted that the push for clear regulations is crucial to maintaining the U.S.’s competitive edge as nations like China heavily invest in stablecoin infrastructure. This is a theme that Donald Trump also addressed during his speech at Davos.
AI and crypto
Armstrong mentioned that artificial intelligence (AI) and crypto were the two most frequently discussed technologies at Davos.
While AI’s rise in capital markets has overshadowed crypto, Armstrong emphasized their close connection. He suggested that AI agents will likely default to utilizing stablecoins for transactions, circumventing standard identity verification and banking limitations entirely.
The takeaway from Armstrong’s summary of Davos was unmistakable: crypto is no longer a peripheral experiment. For at least some of the largest financial entities in the world, it has become a strategic priority — and potentially a matter of survival.
Read more: Coinbase CEO Brian Armstrong spars with France’s Central Bank chief at Davos over yield and ‘bitcoin standard’
