COINBASE Chief Executive Officer, Mr Brian Armstrong, has revealed that senior leaders at major global banks are increasingly viewing cryptocurrency as a fundamental risk to their business models.

According to Mr Armstrong, a top executive at one of the world’s 10 largest banks told him during the World Economic Forum (WEF) in Davos, Switzerland, that crypto had become the institution’s ‘number one priority’ and an ‘existential’ concern.

Speaking on the sidelines of the annual gathering, Mr Armstrong said discussions with financial executives showed a sharp change in attitude from traditional institutions. Rather than dismissing crypto, many are now actively exploring how to integrate it into their operations.

In a post on X, Armstrong said most of the banking leaders he met were no longer sceptical. “Most of them are actually very pro crypto and are leaning into it as an opportunity,” he wrote, though he declined to name the bank or executive involved.

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He added that the shift reflected growing pressure on banks to adapt, especially as regulators across major economies moved closer to setting clearer rules for digital assets.

Tokenisation and stablecoins

Mr Armstrong said tokenisation and stablecoins dominated conversations at Davos, as both technologies threatened to reduce the role of traditional financial intermediaries.

He argued that tokenised assets could allow investors to buy and sell equities, credit and other financial products directly on blockchain networks, without relying on banks or legacy clearing systems.

This could eventually enable global asset managers or fintech firms to move value instantly using stablecoins, bypassing conventional payment rails and middlemen.

Mr Armstrong also highlighted the estimated 4 billion adults worldwide who remained ‘unbrokered’ and lacked access to quality investment products. He said tokenisation could help bridge that gap by opening up financial markets to a much broader population.

“Expect some major progress here in 2026,” he said.

The Coinbase CEO said political momentum for crypto regulation in the United States was building, revealing that artificial intelligence (AI) and crypto were the two most-discussed technologies at Davos.

Mr Armstrong stressed that the two were closely linked. AI agents, he said, would likely default to using stablecoins for payments, bypassing conventional identity checks and banking restrictions altogether.

“The infra exists, and usage is rapidly growing,” he added.