Coinbase says stablecoin payments and new entrants are driving a second institutional wave

Stablecoin payments and new institutional entrants are driving a second wave of crypto adoption after the initial focus on Bitcoin investment, according to Brett Tashpaul, co-CEO of Coinbase Institutional. Institutional demand is expanding from buying Bitcoin to using stablecoins in business payments. Tashpaul said new market participants represent a larger opportunity than increased allocations from investors who already hold Bitcoin. In an October 26 interview with Bitcoin Magazine, Tashpaul said he was seeing a second wave of institutional capital, with the same infrastructure supporting both Bitcoin purchases and stablecoin payments. Seven of the world's largest global systemically important banks use Coinbase's infrastructure, he said. Many had considered crypto adoption for several years.

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