- Brian Armstrong says four billion adults lack brokerage access, limiting participation in global investment markets.
- Tokenization could enable access to stocks and funds by converting assets into tradable digital tokens globally.
- Expanding access may shift reliance from wages to investments, improving long-term wealth creation opportunities.
Coinbase CEO Brian Armstrong said nearly four billion adults remain excluded from global investment markets, describing them as “unbrokered” during a Bloomberg interview in 2026. He explained that these individuals lack access to brokerage services. As a result, they cannot invest in assets like U.S. tech stocks or major funds, despite growing global demand.
Defining the “Unbrokered” Market Gap
According to Brian Armstrong, the industry often focuses on the “unbanked,” yet a separate issue persists. He stated that about four billion people cannot access brokerage platforms or investment tools. Consequently, they remain unable to participate in capital markets.
He noted that this group cannot invest in assets such as American technology companies or funds from firms like BlackRock and Apollo. Therefore, their income depends largely on wages rather than investment returns. This distinction, he said, highlights a structural gap between access to capital and reliance on labor.
Tokenization as a Market Access Tool
To address this gap, Armstrong pointed to tokenization as a developing solution. He explained that tokenization converts assets like stocks and bonds into digital tokens. These tokens can then be accessed and traded more easily across global platforms.
He compared this shift to the rise of stablecoins, where digital dollars enabled faster and cheaper payments worldwide. Similarly, tokenized equities could expand access to investment products beyond traditional systems. In addition, tokenization allows for efficiency gains while reducing entry barriers for new participants.
Expanding Access to Capital Markets
Brian Armstrong stated that tokenizing asset classes aims to broaden participation in wealth creation. He explained that individuals who rely solely on labor often lack opportunities to invest savings. As a result, they remain outside systems that generate long-term financial growth.
However, tokenized markets could provide an alternative entry point. By lowering access barriers, they may allow more individuals to allocate capital into high-quality assets. According to Armstrong, this approach focuses on increasing accessibility while reshaping how global markets distribute investment opportunities.
