During his trip to Davos for the World Economic Forum, Coinbase CEO Brian Armstrong shared that a senior executive at one of the world’s 10 largest banks told him that crypto is now their “number one priority” — and that they see it as “existential.”
Armstrong’s post, shared on X, highlighted a shift in how legacy financial institutions are engaging with crypto. The remark underscores the growing urgency among traditional banks to adapt to crypto infrastructure, especially as global regulators move closer to establishing clearer rules for digital assets.
Just finished our week in Davos. I don’t love wearing a suit every day, but sometimes it has to be done!
Davos is a unique place – the leaders and CEOs of the world (and lots of crypto companies!) all gather in a small mountain town in Switzerland for a few days. It is a productive… pic.twitter.com/0lO5TqRhkL
— Brian Armstrong (@brian_armstrong) 24 January 2026
Armstrong didn’t name the bank or the executive, but said many financial executives he met during the week-long event weren’t just open to crypto — they were actively looking for ways to get in. “Most of them are actually very pro crypto and are leaning into it as an option,” he wrote.
For banks that rely on legacy payment rails, crypto represents both a challenge and an opportunity.
Read more: Bank of America CEO says stablecoins could drain trillions in bank deposits
Tokenization push
As stablecoins and tokenized assets gain momentum, the threat of disintermediation grows. It is possible that a global asset manager or fintech firm could one day completely bypass traditional banks by offering direct access to tokenized securities or stablecoin-based transfers – moving value instantly without removing delays or middlemen (a core pillar of crypto).
Armstrong said tokenization was one of the most discussed trends at Davos, expanding beyond stablecoins into stocks, credit and other financial products.
He pointed to the estimated 4 billion “unbrokered” adults worldwide who lack access to high-quality investments. Tokenization, he argued, could help close this gap.
“Expect some big progress here in 2026,” he added.
Regulation CLARITY
The Coinbase CEO also noted that political support for crypto in the US appears to be strengthening.
He cited the Trump administration’s push for crypto-focused legislation, such as the CLARITY Act, which aims to provide a regulatory framework for digital assets. Armstrong did not touch on his company’s decision to withdraw support for the crypto market structure bill at the last minute, delaying the hearing.
Read more: Here’s why Coinbase and other companies struggled on the big crypto bill
Describing the administration as “the most crypto-forward government in the world,” Armstrong said the push for clear regulations is critical to keeping the U.S. competitive as countries like China invest heavily in stablecoin infrastructure. A theme Donald Trump also spoke about during his speech in Davos.
AI and crypto
Armstrong also said that artificial intelligence (AI) and crypto were the two most discussed technologies at Davos.
While the rise of AI in capital markets has taken the wind out of crypto, Armstrong emphasized that the two are closely linked. AI agents, he said, will likely default to using stablecoins for payments, completely bypassing conventional identity checks and banking restrictions.
Infra exists and usage is growing rapidly,” he added.
The message from Armstrong’s Davos recap was clear: Crypto is no longer a fringe experiment. For at least some of the world’s biggest financial players, it is now a strategic priority – and possibly a matter of survival.
Read more: Coinbase CEO Brian Armstrong spars with France’s central bank governor in Davos on dividends and ‘bitcoin standard’
