OP Labs Product Lead: It is expected that in the next 5 years, various cryptocurrency exchanges and fintech companies will all operate on a self-running Blockchain.

Gate News bot message, the Optimism development team OP Labs stated that it is only a matter of time before all crypto asset exchanges and fintech companies operate their own blockchain.

Sam McIngvale, the product head of OP Labs, stated that its logic is straightforward and pointed out that Base has achieved great success since its debut in 2023.

McIngvale stated that Base has first accumulated an ecosystem composed of users and developers to support the exchange. However, he added that the most obvious aspect is that systems like Base, combined with the Bitcoin-backed loans of the exchange, can monetize the custodial dormant crypto assets through lending.

Base is built on the OP Stack based on Optimism. The OP Stack is a software product that helps users develop Ethereum-compatible Layer-2 Blockchains, providing faster and cheaper transactions. McIngvale explained that the success of Base—measured by multiple indicators including TVL—indicates that it is the largest Layer-2 Blockchain and signals the future direction of the industry.

McIngvale said: “I expect that within the next five years, every crypto assets exchange and every fintech company will be able to run their own blockchain. If you have Bitcoin on an exchange, you just need to press a button, and they will transfer these Bitcoins to the corresponding chain, and then you can use these Bitcoins to borrow USDC, and then you can do anything you want with these USDC.”

Source: CoinDesk