Stripe also provides payment services for OpenAI, the AI research company behind ChatGPT. These partnerships signal growing recognition that AI and cryptocurrency represent complementary technologies.
The fraud challenge Stablecoins and cryptocurrency platforms face the same security challenges confronting all digital financial services. Keith describes the situation as a constant arms race between platforms and criminals.
Coinbase works with numerous identity verification vendors to prevent fraud. However, AI tools now enable fraudsters to create convincing fake identities and documents. Sophisticated deepfakes can pass initial verification checks, making it increasingly difficult to confirm that identity documents are genuine.
“ It’ s a constant cat and mouse game,” Keith says.“ Just as much as companies like Coinbase and others are adopting AI tools to make our systems better, fraudsters are adopting AI tools to become better at fraud. It becomes an ever-escalating battle.”
The UK government recently proposed introducing national digital identity cards, partly to address these verification challenges.
The proposal has generated mixed reactions, with privacy advocates expressing concerns about government surveillance while security proponents argue that such systems are necessary.
Keith suggests the verification
“As companies like Coinbase adopt AI tools to make systems better, fraudsters adopt AI tools to become better at fraud”
Keith Grose, UK CEO, Coinbase
problem will never reach equilibrium. As defensive technologies improve, attack methods will evolve accordingly.
The critical factors are maintaining clear regulations, robust consumer protections and building security into products from inception.
“ You never get to an answer,” he continues.“ You’ re just in a constant cat and mouse game with fraudsters.”
Coinbase’ s UK ambitions The United Kingdom represents Coinbase’ s second-largest market after the United States. Keith aims to significantly expand that presence over the coming years.
Approximately 12 million UK adults currently own cryptocurrency. Keith believes that number can reach 30 to 50 million within five years. Achieving this growth requires making Coinbase the easiest entry point for newcomers.
The product roadmap includes several initiatives designed to bring blockchain
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