Coinbase (COIN) is partnering with some of the largest U.S. banks on pilot programs involving stablecoins, custody and cryptocurrency trading, CEO Brian Armstrong said at the New York Times’ DealBook Summit on Wednesday.
“The best banks are seeing this as an opportunity,” Armstrong said during a discussion alongside BlackRock CEO Larry Fink. He did not name specific banks. “Those who are fighting will be left behind.”
The announcement suggests a quiet but growing adoption of crypto infrastructure by major financial institutions, even as the broader market remains under strict regulatory scrutiny. Stablecoins (digital tokens backed by cash or cash-like assets) have become a central focus for banks exploring tokenized finance.
The joint appearance also covered broader topics. Fink, who once discarded bitcoin now he sees it as protection in times of uncertainty. “You own bitcoin because you are afraid of your physical security. You own it because you are afraid of your financial security,” he said. For Fink, bitcoin is less about speculation and more about long-term protection against currency debasement and rising debt.
Fink said that
Armstrong also pushed for clearer rules in Washington. He said he expects the US Senate to soon vote on a bill known as the CLARITY Act, which would establish definitions and legal responsibilities for crypto exchanges, token issuers and other players in the digital asset space.
