Coinbase’s Stablecoin & Tokenization Strategy w/ Shan Aggarwal

Coinbase has evolved into a comprehensive financial infrastructure provider, building the foundation for an open, tokenized global economy. By vertically integrating services like custody, liquidity, and stablecoin issuance, the platform aims to replace antiquated settlement systems with instant, on-chain transactions. A central shift involves preparing for "agentic commerce," where AI agents serve as the primary execution layer for internet services, requiring efficient, machine-to-machine payment rails. Achieving this vision depends on regulatory clarity, particularly in defining asset classifications and establishing stablecoins as equivalent to traditional currency. By tokenizing diverse asset classes—from equities to private credit—within a unified wallet, the infrastructure seeks to eliminate capital inefficiencies and enable seamless interoperability. This transition represents a fundamental move toward a headless financial system where intent, rather than manual interface interaction, drives economic activity.