Key facts
- Seven mega banks are utilizing Coinbase's infrastructure.
- Stablecoin rails are a key driver of institutional adoption.
- Institutions currently view Bitcoin primarily as a technology.
Coinbase Institutional Co-CEO Brett Tejpaul announced that a "second wave" of institutional capital is entering the Bitcoin market. He noted that seven major banks are now utilizing Coinbase's infrastructure. Tejpaul explained that while stablecoin rails are a primary driver for this adoption, institutions still largely perceive Bitcoin as a technological asset rather than a direct investment.