Coinbase CEO Brian Armstrong believes that Apple and its App Store policies have limited innovation for crypto-native apps.
It’s no surprise that Apple and its App Store policies have been a major impediment to innovation over the years.
On a recent episode of Superstream Podcast, Armstrong described Coinbase’s experience trying to add some functionality to its app, but was restricted by Apple, prohibiting further innovation by the company.
“So far Apple hasn’t really played well with crypto, they’ve actually banned a bunch of features that we’d like to have in the app, but they just won’t allow it – so there are potential antitrust issues there,” Armstrong said.
Are crypto-enabled devices the future?
Armstrong also predicts that the future of app stores will come with crypto-enabled devices with built-in hardware features that will ultimately meet the needs of crypto investors.
Instead, Armstrong is calling on both Apple and Android to add encryption features to their operating systems, saying these features would make users more comfortable with the space by having it on. their phones.
Regarding Coinbase’s plans to build a hardware crypto wallet, Armstrong says the exchange already has a co-branded wallet with Ledger, but doesn’t think most users want to have a separate wallet just for Bitcoin.
In 2020, Armstrong criticized Apple for its stifling policies, now stating how the Coinbase app is currently unable to access DeFi services – comparing Apple’s policies to Microsoft’s anti-competitive practices.
Where is Coinbase going?
Either way, the Coinbase app is still one of the most downloaded financial apps on the App Store, with 89 million downloads.
Despite the criticisms, Apple’s Coinbase app still offers users some unique features, including the ability to use Apple Pay to buy crypto on Coinbase. Through Apple Wallet, users can also connect their Coinbase card.
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