Coinbase and the Institutional Bitcoin Wave: How Traditional Banks Are Playing Catch-Up

As Bitcoin continues to gain mainstream traction, traditional financial institutions are scrambling to bridge the gap between legacy systems and crypto-native platforms. Phong Le, CEO of Strategy, sheds light on behind-the-scenes discussions with major US banks, revealing their urgent focus on developing custody solutions and exchange infrastructure. This shift underscores the growing institutional demand for Bitcoin services, as clients increasingly migrate toward decentralized finance. With Coinbase leading the charge in institutional crypto adoption, 2025 marks a pivotal year for traditional finance's embrace of digital assets.

Banking's Bitcoin Awakening: How Traditional Finance Is Racing to Close the Crypto Gap

Strategy CEO Phong Le reveals behind-the-scenes discussions with major US banks about bitcoin adoption. The conversations focus on custody solutions and exchange infrastructure—basic building blocks that institutions can no longer ignore as clients increasingly migrate to crypto-native platforms.

"They're all trying to catch up with just the base of custodying bitcoin and providing exchange services," Le explains. Banks now view BTC not as an external asset, but as a native account-type product within existing financial distribution channels—what Le calls "a checking account and savings account for Bitcoin."

The roadmap suggests an impending wave of institutional crypto products, with traditional finance firms scrambling to replicate services already offered by Coinbase and Fidelity. This marks a significant shift from skepticism to strategic adoption at the highest levels of banking.

Philippines Blocks Coinbase, Gemini in Major Regulatory Crackdown

Philippine internet service providers have restricted access to 50 cryptocurrency trading platforms, including U.S.-based giants Coinbase and Gemini, following regulatory directives. The National Telecommunications Commission enforced the blocks after a request from the Bangko Sentral ng Pilipinas, targeting unlicensed virtual asset service providers.

The crackdown stems from BSP Circular No. 1206, which strengthens oversight of digital asset operations. Philippine traders face immediate disruptions as authorities prioritize consumer protection and financial stability in the rapidly evolving crypto sector.