Brett Tejpaul, Co-CEO of Coinbase Institutional, says seven of the world's largest banks now run on Coinbase infrastructure. He says stablecoin payments, not Bitcoin ETFs, now drive that adoption, and gives a candid read on Bitcoin's performance.
Seven of the largest banks in the world are now running on Coinbase infrastructure, according to Tejpaul. In a Bitcoin Magazine interview with Grace Remington and Sean Hagan, he says the banks are having a "Kodak moment".
Stablecoin payments replace ETFs as the driver
Tejpaul says the driver has shifted from Bitcoin ETFs to stablecoin payments. His example: money can now move from a Citi account to USDC, across the blockchain in a second, and into a corporate account on the other side.
The interview also covers $400 million an hour in stablecoins. Separately, the chapters show Tejpaul discussing how payment providers come first, then banks in stablecoin adoption, and the arrival of agentic commerce.
A candid read on Bitcoin
On Bitcoin itself, Tejpaul says the macro setup is great, but the performance has been disappointing. He adds that institutions aren't yet treating it as anything but a tech trade.
The conversation also turns to Coinbase's own business. Chapter titles point to connecting U.S. funds to Deribit's 85% options market share, and net-new entrants in what the video's title calls a second wave of institutional capital.
Source: Bitcoin Magazine
Trading involves risk.
Risk Disclaimer
