Coinbase/JPMorgan Deal Signals Shift in Institutional Posture Towards Crypto: Bernstein

Description

Coinbase (COIN) and JPMorgan (JPM) have formed a l ong-term strategic partnership to expand access to digital assets and enhance customer security. The deal, announced earlier today, underscores Coinbase’s role as a core blockchain infrastructure provider, not just a trading venue, for major U.S. banks, according to a note on Wednesday from brokerage firm Bernstein. Rather than competing with crypto platforms, JPMorgan is choosing to integrate with them, signaling a shift in how legacy instituti...