Coinbase CEO Says Tokenized Assets Could Do For Finance What the iPhone Did For Tech: ‘An Entirely New Wave of Companies’

Coinbase Global Inc. ) CEO Brian Armstrong said tokenized assets on blockchains could transform financial markets in much the same way the iPhone created a platform for companies such as Uber Technologies Inc. ), TikTok and Coinbase.Armstrong Predicts New Blockchain Finance CompaniesOn Saturday, Armstrong made the comments on X, comparing the potential impact of blockchain with the iPhone’s role in creating new businesses."Apple didn’t predict Uber, TikTok, or Coinbase," Armstrong said.He added, "But the iPhone enabled an entirely new wave of companies."He argued that tokenized assets could have a similar effect on financial markets."We already know the immediate benefits (global access, better utility, 24/7 trading), but a new set of finance companies we can’t imagine will be built on top," Armstrong said.Tokenized assets are digital tokens created on a blockchain that represent ownership or rights to real-world physical or financial assets.Apple didn’t predict Uber, TikTok, or Coinbase. But the iPhone enabled an entirely new wave of companies.Tokenized assets on blockchains will be similar. We already know the immediate benefits (global access, better utility, 24/7 trading), but a new set of finance companies we… Read Also: Coinbase CEO Says Stablecoins Let People Escape Inflation Without Leaving Home: 'Crypto Gives People a Way Out' Blockchain Push Reshapes Global FinanceJapan’s financial regulators and major financial institutions planned to study blockchain infrastructure for real-time settlement of stocks and bonds, targeting a strategy by early 2027 and possible operation in the early 2030s.The system could tokenize bank deposits held at the Bank of Japan into digital currency for institutional blockchain settlement, while banks and securities firms were already testing tokenized assets.The move reflected Japan’s broader shift toward digital finance and came after cryptocurrencies were reclassified as financial assets alongside stocks and other instruments.Last year, Pyth Data Association Director Marc Tillement said blockchain could transform global financial markets over the next five to 10 years by reducing fragmentation and combining pricing, trading and settlement on a single layer.He pointed to Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) as examples, while noting challenges around speed, scalability, data storage and decentralization.Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Read Also: Bitcoin, Ethereum Are 'Really Underowned,' Analyst Says: 'Two of the Best Assets in the World' Photo Courtesy: Thrive Studios ID on Shutterstock.com