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Cryptocurrency exchange Coinbase Global (NASDAQ: $COIN) is targeting banks as institutional adoption of cryptocurrencies continues to grow.
Coinbase is expanding its services for banks and other traditional financial firms as institutions continue to adopt Bitcoin (CRYPTO: $BTC) and other crypto.
In a media interview, Liz Martin, head of Coinbase Institutional, said banks are launching their own digital asset services and Coinbase is serving as their infrastructure provider.
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Coinbase and other crypto firms are building their prime brokerages and offering services such as custody, trading, financing, and settlement to leading banks around the world.
On Oct. 8, Coinbase Global announced that it will provide custody balances of Circle’s (NYSE: $CRCL) stablecoin (CRYPTO: $USDC)
Coinbase also recently said that it had finalized the integration of Deribit and would soon link its U.S. and international crypto-derivatives markets in one liquidity pool.
Coinbase purchased trading platform Deribit in 2025 for $2.9 billion U.S.
COIN stock has declined 55% over the last 12 months to trade at $175.11 U.S. per share.
Source: finance.yahoo.com