- Coinbase’s CEO has revealed that 174 government entities are engaging with the company, reflecting growing institutional interest in digital assets and blockchain applications.
- This adoption is being driven by the U.S. president’s implementation of crypto-friendly policies and his initiative to establish a national Bitcoin reserve.
Cryptocurrency adoption is surging as major financial institutions and government agencies collaborate with leading cryptocurrency exchanges. Recently, Coinbase CEO Brian Armstrong announced in an X post that 145 U.S. entities and 29 global institutions have integrated with its platform, marking a significant step toward mainstream adoption.
“In the wake of the U.S. Strategic Bitcoin Reserve launching, we’re seeing many more take an interest. We’d like to help everyone custody, trade, and use crypto, and that includes governments around the world. Let’s bring everyone on-chain!” he stated, emphasizing the growing interest in digital assets.
Coinbase Expands Globally
Since its launch in 2012, Coinbase has securely managed digital assets without a single risk event, reinforcing its reputation as a trusted platform. Beyond trading and custody, the company offers portfolio and treasury management, due diligence, and continuous education, further supporting institutions as they navigate the evolving crypto ecosystem.
Most recently, Coinbase successfully registered with India’s Financial Intelligence Unit (FIU), re-entering the Indian market after ceasing operations in 2022. The company is actively engaging with Indian authorities to secure the necessary approvals for its renewed operations.
Coinbase is strengthening its presence in Europe by actively engaging with policymakers and regulators. In response to the European Commission’s call for evidence on the European Savings and Investment Union, the company has advocated for the adoption of permissionless blockchains and a reassessment of crypto prudential treatment.
Meanwhile, Coinbase’s Bermuda division secured regulatory approval to operate in the region, leading to the launch of Coinbase International Exchange. This platform enables non-U.S. customers to trade Bitcoin and Ethereum futures, further strengthening the company’s international offerings.
In partnership with Chainlink, Coinbase has introduced Project Diamond, an initiative operating under the regulatory oversight of the Abu Dhabi Global Market (ADGM). Designed to serve institutional investors and asset managers outside the United States, this project aims to foster blockchain innovation on a global scale.
U.S. Strategic Bitcoin Reserve and Legislative Developments
Armstrong noted that more government entities are taking interest in crypto since U.S. President Donald Trump signed an executive order establishing a national Bitcoin Reserve consisting of Bitcoin held by the U.S. Treasury, which is estimated to be worth around $17 billion.
As of March 13, several states have made significant progress in advancing State Bitcoin Reserve (SBR) bills. Arizona, Texas, New Hampshire, and Oklahoma have successfully passed the Introduced and Committee 1 stages, signaling growing legislative support. Among them, Utah is the furthest along, having progressed through Introduced, Committee 1, and Chamber 1.
Looking ahead, increased regulatory clarity could drive greater institutional adoption of cryptocurrencies, giving large financial players the confidence to enter the market. The growing number of crypto Exchange-Traded Fund (ETF) filings, along with the Securities and Exchange Commission (SEC) acknowledging multiple submissions, signals a shift toward broader acceptance.
