Coinbase Global (COIN) is continuing its efforts to bridge the gap between cryptocurrencies and traditional banking systems. The company is currently in discussions with several of the largest banks in the United States to explore pilot programs centered around stablecoins, custody, and trading solutions. Should these initiatives come to fruition, Coinbase could potentially establish a more diversified and recurring revenue stream, which would help mitigate its reliance on the volatile trading revenues that have characterized the cryptocurrency market.
This latest move is part of a broader strategy that has seen Coinbase align itself with major banking institutions in the past. The exchange has previously partnered with notable banks such as JPMorgan, Citi, and PNC Bank. For instance, Coinbase and Citi are working together to develop digital asset payment capabilities tailored for institutional clients. With PNC Bank, Coinbase has created a partnership aimed at meeting the increasing demand for secure access to digital assets through PNC’s established platform. Moreover, the collaboration with JPMorgan is set to allow customers to fund their wallets using Chase credit cards for cryptocurrency purchases on Coinbase, with this service expected to launch in fall 2025.
In a related development, Coinbase submitted an application for a national trust company charter to the U.S. Office of the Comptroller of the Currency, which was filed on October 7, 2025. However, this bid is facing opposition from the Independent Community Bankers of America, which is against granting Coinbase bank charter status.
The regulatory landscape seems to be shifting favorably for Coinbase, coinciding with an increasing acceptance of digital assets as a viable banking service. The company appears committed to positioning itself as the preeminent “everything exchange” in the cryptocurrency space by focusing on building a comprehensive product and service portfolio.
In the broader market, Robinhood Markets (HOOD) is pursuing aggressive growth through rapid product innovation and international expansion. The company has been making strategic acquisitions to enhance its presence both in the United States and globally. Recently, Robinhood has reported that its AI capabilities and swift feature rollouts are leading to increased user engagement, improved monetization opportunities, and heightened retention rates, bolstering its appeal to both retail and sophisticated traders.
Meanwhile, Interactive Brokers (IBKR) is actively seeking growth opportunities in emerging markets, including Taiwan, Mexico, and India. With significant advancements in its European business, Interactive Brokers is not only expanding its operations in Europe but is also implementing measures to enhance its global footprint.
In the financial market, Coinbase shares have seen an increase of 10.7% year-to-date, reflecting better performance compared to the industry average. Currently, Coinbase trades at a price-to-earnings ratio of 44.93, markedly higher than the industry average of 24.32, and it carries a Value Score of F according to Zacks Investment Research.
