If you think about the bigger picture implications of the @coinbase announcement: Coinbase expanding beyond trading doesn’t kill on-chain neobanks, it basically validates them. Platforms like Coinbase or any large U.S. bank are where money lands. Capital still moves to where it’s used more efficiently i.e. trading accounts, operating accounts. Same dynamic with stablecoins. The onramp just got easier and flows become more mobile. It’s not a winner take all game. Stablecoin usage concentrates for real reasons, often where traditional banking doesn’t work well (the ethos of crypto). A small group of power users who actually spend, earn, and borrow can matter more than a million casual accounts. The TAM is large.(CryptoISO)