Coinbase and Blockstream executives highlight growing institutional adoption of digital assets

Seven of the largest banks in the world are now using Coinbase infrastructure, according to statements made by Brett Tejpaul, the Co-CEO of Coinbase Institutional, to Bitcoin Magazine Markets. Tejpaul stated that primary institutional drivers have shifted from Bitcoin exchange-traded funds to stablecoin payments, which allow funds to settle between bank accounts and corporate accounts via digital dollar rails in one second. [1]

In a separate report by Bitcoin Magazine, Blockstream Chief Marketing Officer Peter Bain stated that Bitcoin maintaining the 81,000 dollar level signals strength. Bain noted this price stability occurred despite broader challenges, including an equity selloff, a rising 10-year Treasury yield, and unrest in Europe. Blockstream is also expanding its operations into Swiss institutional banking. [2]

Coinbase Global, Inc. was founded in 2012 by Brian Armstrong and Fred Ehrsam. As of 2024, the American cryptocurrency exchange operates in more than 100 countries and functions as the largest Bitcoin custodian in the world, holding nearly 516 billion dollars in assets under management. [3]

Tejpaul explained that major financial institutions view Bitcoin as technology while adopting underlying crypto payment infrastructure. Meanwhile, Bain told Bitcoin Magazine that institutional clients believe the market is positioned for growth as asset managers look to leverage infrastructure developments such as the Liquid Network. [1][2]