Coinbase CEO promises better customer support and how the exchange could integrate with decentralized exchanges as we are reading more in our latest Coinbase news today.
The exchange CEO says he sees decentralized exchanges as an opportunity and not a threat. Armstrong pledged the company’s customer service will improve In a Reddit AMA on Tuesday where he addresses a series of user questions ahead of the company’s impending direct listing. The direct listing will be the first in the US for a cryptocurrency company to trade publicly. He fielded questions on the company’s customer support shortcomings with a potential threat that the decentralized exchange poses to Coinbase and the company’s decision to sell traditional tock shares rather than tokens.
The Reddit AMA included a video of Armstrong and Alessia Haas who is the company’s CFO which is the first of its kind for any company that is going public. The pre-IPO companies engage in a process called a roadshow where executives engage in meetings and questions with investors to make the case for buying the company’s shares. However now, the Coinbase CEO promises better customer support as he was speaking in the video, saying that the Reddit users submitted about 1300 questions and that the exchange chose to answer only the ones with the most votes.
The questions included one from a long-time customer who said that they become disillusioned with the company’s customer support claiming that the exchange was hiding between layers of automated responses. Armstrong blamed the recent bull run which he claimed led to customer service requests to surge in the past few months. He added that coinbase was trying to address this issue and predicted the situation will improve:
“Actually the number [of people] we brought on this year is more than the entire size of the customer support team prior to 2021. And you can imagine it takes a long time to both hire those people and also train them so that they can be really effective in helping customers. So you are seeing some automation and things like that, but we never want to prevent customers from contacting somebody.”
Armstrong’s response to the flurry of questions could have been regarding the DEXs and the threat they pose which are autonomous crypto trading platforms like Uniswap. He predicted that his exchange will evolve to integrate with various DEXes and will provide customers with the option to access them as they want, similarly to what Amazon does to host third-party sellers.
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