▶

Bitcoin Magazine

Coinbase Institutional Co-CEO: Bitcoin’s “Second Wave” of Institutional Capital has Arrived

Seven of the largest banks in the world are now running on Coinbase infrastructure, and Brett Tejpaul, Co-CEO of Coinbase Institutional, says they’re having a “Kodak moment.” He joins Grace Remington and Sean Hagan to explain why the driver has shifted from Bitcoin ETFs to stablecoin payments now that money can move from a Citi account to USDC, across the blockchain in a second, and into a corporate account on the other side. He also gives a candid read on Bitcoin: the macro setup is great, the performance has been disappointing, and institutions aren’t yet treating it as anything but a tech trade.

Chapters:
0:00 Seven of the World’s Largest Banks Are Using Coinbase Infrastructure
1:19 From ETFs to Payments: Citi, USDC and Instant Bank-to-Blockchain Transfers
2:44 $400 Million an Hour in Stablecoins and the Banks’ “Kodak Moment”
4:38 Stablecoins Are a “Speck of Dust”: Payment Providers First, Then Banks
6:10 Agentic Commerce Arriving at the Same Time as the Big Players
6:49 Is Bitcoin Still a Leveraged Tech Trade? “Disappointing” Performance, Great Setup
8:44 Connecting U.S. Funds to Deribit’s 85% Options Market Share
11:06 The Second Wave: Net-New Entrants and Coinbase’s “Amazon to AWS” Pivot
12:57 Activating the Whole U.S. Through Coinbase Infrastructure
13:56 Quantum, 90% ETF Custody Share and “Safe Forever”

DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

This post Coinbase Institutional Co-CEO: Bitcoin’s “Second Wave” of Institutional Capital has Arrived first appeared on Bitcoin Magazine and is written by Patrick Green.

Bitcoin Magazine

Coinbase Business Chief: Big Banks Increasing BTC Exposure | Shan Aggarwal

New SEC rules could open the door for financial advisors to hold Bitcoin for their clients, and Coinbase is already at the center of that custody story. Shan Aggarwal, Coinbase’s first-ever Chief Business Officer, explains how Coinbase custodies most of the Bitcoin ETFs and supports the advisor community. He sees the advisor rule as expanding the pie for Bitcoin access, with Coinbase providing the infrastructure behind it.

Chapters:
00:00 How the SEC’s New Advisor Rules Could Bring Bitcoin to Wealth Managers
01:13 What BlackRock and JPMorgan Want From Bitcoin Infrastructure
02:16 What Will Drive the Next Wave of Bitcoin Adoption
03:28 Can the Coinbase One Card Turn Spenders Into Bitcoin Owners?
04:22 Coinbase’s Trillion-Dollar Stablecoin Opportunity
05:14 Coinbase and Citi Bring Stablecoin Payments to Merchants
05:56 Sponsor: SALT Lending
06:26 How Coinbase Customers Are Using Bitcoin Lightning
07:37 Will AI Agents Pay in Bitcoin or Stablecoins?
08:30 Coinbase Expands Into Collectibles and Everyday Bitcoin Rewards

DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

This post Coinbase Business Chief: Big Banks Increasing BTC Exposure | Shan Aggarwal first appeared on Bitcoin Magazine and is written by Patrick Green.

• Major UK banks have completed the first live customer transactions using tokenized sterling deposits on shared infrastructure.
• Participants include Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest and Santander.
• The project is using real commercial-bank money and is testing payments including person-to-person transfers and remortgage transactions.

**ID:** B25-09

**Site:** Bitcoinist

**Status:** READY

**Author:** Bitcoinist Editorial Team

**Focus Keyword:** Tokenization

**Image Keyword:** Sterling

**Category:** Technology

**Tags:** UK Finance, Tokenized Deposits, Sterling, Banks, Payments

**Primary Source:** https://www.ukfinance.org.uk/news-and-insight/press-release

The Money Is Still A Bank Deposit

That distinction is central to the project.

A tokenized deposit is not a privately issued stablecoin and it is not a digital pound issued by the Bank of England.

It is a digital representation of money already held as a commercial-bank deposit.

The aim is to retain the legal and regulatory protections attached to ordinary bank money while adding blockchain-style programmability and faster settlement.

Banks participating in the project include Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest and Santander.

Quant built the platform, while EY is providing project management and Linklaters developed legal advice and the rulebooks.

The Pilot Is Testing Real Consumer And Financial Use Cases

The project includes person-to-person transfers and remortgage transactions.

UK Finance says digital-asset settlement will also be tested over the coming months.

That makes the experiment broader than sending a token from one test wallet to another.

The industry is trying to show that tokenized bank money can work across institutions and support transactions customers already understand.

Interoperability is the harder part.

Individual banks can build tokenized deposit systems relatively easily.

The real value emerges when a deposit issued by one institution can move across common infrastructure without breaking the protections or controls associated with the banking system.

The project is therefore a useful counterpoint to stablecoins.

Stablecoin companies are increasingly trying to make blockchain dollars look more like regulated bank money.

Banks are moving in the opposite direction, trying to make regulated deposits gain the programmability of blockchain assets.

The two models may eventually meet somewhere in the middle.

For now, the UK pilot shows tokenized deposits moving beyond demonstrations.

Actual customers have now used them to complete live sterling transactions.

*This article was written by the News Desk and edited by [Samuel Rae](https://bitcoinist.com/author/samuelrae/).*