Startups on Blockchain? Coinbase’s Big New Plan

During an interview on the TBPN podcast, Armstrong explained that he wants to make it possible for new companies to register, raise money, and eventually go public without using traditional systems.

By using blockchain technology, startups would not need banks or legal teams to handle payments or global transfers. Instead, smart contracts could allow instant fundraising and payment processing.

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He said that once capital is received in digital dollars like USDC USDC $1.00 , companies can begin operating right away, generating income, handling crypto transactions, and preparing for a token-based public offering.

Armstrong pointed out that raising funds through traditional methods is often slow and difficult. To improve this, Coinbase has acquired Echo, a fundraising platform that has already helped over 200 projects collect more than $200 million.

He said Echo will continue to operate separately at first but will later be added to Coinbase’s larger platform. This would give startup teams access to Coinbase’s vast network of users and over $500 billion in managed assets.

Armstrong said during the podcast:

If we can bring together skilled entrepreneurs and investors, we’re in a good position to support that.

On October 21, Coinbase announced plans to add private transaction features to its Base network. What did Armstrong say? Read the full story.