Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong said Thursday that the company views Visa Inc. (NYSE:V) and Mastercard Inc. (NYSE:MA) as partners in the growing cryptocurrency-powered payments industry, rather than competitors.
What Happened: During Coinbase’s second-quarter earnings call, Armstrong was asked if the company is planning to build an “alternative network” to the fintech behemoths, to which he replied, “Not really.”
“We actually partner with them in many ways on the cards that we put out there,” the CEO added.
Armstrong stated that Visa and Mastercard are “very involved” in stablecoins and cryptocurrencies, building projects, some in collaboration with Coinbase and others independently. He stressed that the …