Ready to launch operations in Türkiye pending regulatory approval: Coinbase CEO

Coinbase CEO Brian Armstrong expressed enthusiasm about expanding the company’s operations to Türkiye, pending regulatory approval.

Speaking to CNBC-e at the World Economic Forum in Davos, Armstrong emphasized Coinbase’s interest in the Turkish market and its commitment to beginning operations as soon as required licenses are obtained.

“We have not yet launched operations in Türkiye,” Armstrong said. “In this context, we aim to obtain approval from regulatory authorities. Once we secure our license, we are eager to start working in Türkiye. Whether this happens this year depends on the licensing process.”

Cryptocurrencies bolster economic freedom, Coinbase CEO Armstrong says

Armstrong underscored the role of cryptocurrencies in providing economic freedom and protection against inflation during his discussions with global finance ministers.

“Cryptocurrencies, in my view, shield people worldwide from inflation and allow them to make payments quickly and affordably,” he stated. He added some governments are exploring strategic Bitcoin reserves, reflecting the growing recognition of cryptocurrencies as a valuable economic tool.

Positive outlook for US crypto legislation

When asked about potential cryptocurrency legislation during a second Trump administration, Armstrong expressed optimism. “We are very optimistic about this. Trump has expressed a desire to become the world’s first crypto president. Both he and the U.S. Congress are showing great interest in this area. I hope that legislation will pass in the U.S. in the near term,” he said.

Cryptocurrencies complement traditional money

Armstrong dismissed concerns that cryptocurrencies could undermine traditional currencies, highlighting their complementary relationship. “Cryptocurrencies strengthen fiat money. In the U.S., we have USDC, a tokenized dollar that can be used globally. The digital dollar enhances the value of traditional fiat currency,” he explained.

He also described Bitcoin as “the new gold standard” and noted its potential for enabling businesses to raise funds similarly to traditional securities.