Coinbase Global (NASDAQ: $COIN) is broadening its reach into traditional finance by targeting banks as institutional crypto adoption accelerates. The cryptocurrency exchange is expanding its services for banks and other financial firms, acting as an infrastructure provider for their digital asset initiatives. Liz Martin, head of Coinbase Institutional, confirmed that banks are developing their own crypto services, with Coinbase offering support through custody, trading, financing, and settlement solutions.
On October 8, Coinbase announced it would provide custody for Circle's (NYSE: $CRCL) stablecoin, USDC (CRYPTO: $USDC), via its Coinbase Prime platform. The exchange also completed the integration of Deribit, a trading platform acquired in 2025 for $2.9 billion, and plans to unify its U.S. and international crypto-derivatives markets into a single liquidity pool.
Despite these expansions, Coinbase's stock has declined 55% over the past year, currently trading at $175.11 per share.