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    Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

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      Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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    John Deaton Says Ripple, Coinbase Will Replace Big Banks

    Story Highlights
    • Gen Z Drives Shift to Crypto: 89% of Gen Z and Millennials are ready to ditch banks for crypto platforms like Coinbase and Ripple.

    • Deaton Predicts Crypto Banks: John Deaton says platforms like Coinbase and Robinhood will soon replace traditional banks as full-service lenders.

    More and more young people are moving away from traditional banks and looking toward crypto platforms for better financial opportunities. They’re drawn to things like higher returns, tokenized stocks, and access to Web3 tools that offer more control and flexibility.

    Paul Barron recently shared that big banks like Wells Fargo and Bank of America are now feeling the heat. He pointed out that 89% of Gen Z and Millennials say they’re ready to leave their banks for crypto and DeFi platforms. This major shift shows how quickly the next generation is embracing new tech and pushing for a more open financial system.

    In the same context, John E Deaton believes that companies like Coinbase, Kraken, Ripple, and Robinhood will soon take over the role of traditional banks. He believes people will be able to get car loans, home loans, and even borrow money from each other using these platforms. He sees them becoming full financial centers soon. 

    Ripple and Uphold Deal Could Financial Game

    Deaton also pointed out the speculation that Ripple might buy Uphold. If that happens, he believes Uphold will also become a major player in this new financial system. Ripple, already a leader in digital payments, could get a major boost with this deal, allowing it to serve more users and offer more financial tools.

    Why Traditional Banks Are Falling Behind

    According to Deaton, banks that don’t innovate or adopt modern technology will not survive. With the rise of DeFi (Decentralized Finance), people now expect faster services and better access to their money. They also want the chance to earn higher returns and gain more control over their finances. Deaton says this is why many younger people are already turning away from big banks in favor of crypto platforms.

    Coinbase and Robinhood Are the Future

    Deaton says Coinbase and Robinhood are no longer just apps for trading. He sees them becoming strong financial companies. More people are using these platforms every day, and he believes they will only get bigger as crypto grows. Recently, Cathie Wood said Bitcoin holders may soon use Coinbase to get mortgages by using their crypto as collateral.

    John Deaton agrees with Cathie Wood, calling Coinbase a top stock to own, just like big names such as Goldman Sachs and JPMorgan. Referring to these changes, he said Coinbase isn’t just a crypto app anymore, as it’s becoming a major player in traditional finance. The COIN stock surged, nearly 100% in two months, which shows that more people are buying into this story.

    He also says the change is already happening. The world of money is shifting. People who act early could see the biggest rewards.

    Never Miss a Beat in the Crypto World!

    Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

    FAQs

    Why are Gen Z and Millennials increasingly ready to leave traditional banks for crypto platforms?

    Gen Z and Millennials are drawn to crypto platforms by the promise of higher returns, access to tokenized stocks, and Web3 tools offering more control and flexibility. They seek faster services and better access to their money, reflecting a desire for a more open and technologically advanced financial system that traditional banks often lack.

    How can platforms like Coinbase and Robinhood offer car loans or home mortgages using crypto?

    Platforms like Coinbase are already offering crypto-backed loans, allowing users to borrow USDC using Bitcoin as collateral without selling it. While not yet directly offering car or home mortgages, the move towards tokenized assets and the ability to use crypto as collateral for traditional loans is paving the way for such services in the future.

    Why are traditional banks like Wells Fargo and Bank of America falling behind in attracting younger generations?

    Traditional banks are falling behind because they often lack the innovation and modern technology that younger generations expect. They struggle to offer faster services, higher returns, and the level of control and transparency that DeFi and crypto platforms provide. Their outdated systems and slower adoption of new tech deter digitally native users.

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