"All Exchanges and Fintech Companies Will Operate Their Own Blockchains Within 5 Years"
Summary
- It is projected that within the next five years, all virtual asset exchanges and fintech companies will operate their own blockchains.
- Sam McIngvale, Head of Product, mentioned this trend based on the successful case of Base (BASE) by Coinbase.
- It was highlighted that exchanges can explore profit strategies through collateralized lending using their own blockchains, drawing the attention of investors.
A claim has emerged that within the next five years, all virtual asset (cryptocurrency) exchanges and fintech companies will be operating their own blockchains.
According to CoinDesk on the 18th (local time), Sam McIngvale, Head of Product at OP Labs, the development company behind Optimism (OP), stated, “Considering the successful case of Base (BASE) launched by Coinbase, all exchanges and fintech companies will run their own blockchains within the next five years.”
He particularly pointed out that exchanges can monetize collateralized lending via their own blockchains. He said, “If the Base blockchain is combined with Coinbase’s Bitcoin collateralized lending, it becomes profitable.” He added, “If users hold Bitcoin on Coinbase, they can move that Bitcoin to Base, borrow USD Coin (USDC), and use it.” He suggested that other exchanges may pursue similar strategies.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit!["Will AI take our jobs?" Fear spreads…market rattled by a plunge in shares [New York Market Briefing]](https://media.bloomingbit.io/PROD/news/874408f1-9479-48bb-a255-59db87b321bd.webp?w=250)
