145 U.S. and 29 international organizations collaborate with Coinbase—Is cryptocurrency usage increasing?

The CEO of Coinbase has disclosed that 174 government bodies are interacting with the company, indicating an increase in institutional interest in digital currencies and blockchain technologies. This growing adoption is fueled by the U.S. president’s supportive crypto policies and the plan to create a national Bitcoin reserve. The acceptance of cryptocurrencies is on the rise as significant financial institutions and government organizations partner with top cryptocurrency exchanges. In a recent post on X, Coinbase CEO Brian Armstrong revealed that 145 U.S. organizations and 29 international institutions have connected with its platform, highlighting a major advancement towards broader acceptance. “With the introduction of the U.S. Strategic Bitcoin Reserve, there’s an increasing interest from various entities.” Our goal is to assist everyone, including global governments, with the custody, trading, and utilization of cryptocurrency. “We should get everyone involved in the blockchain!” he remarked, highlighting the increasing enthusiasm for digital assets. Coinbase is expanding its global reach. Since its inception in 2012, Coinbase has safely handled digital assets without encountering any security issues, solidifying its status as a reliable platform. In addition to trading and custody services, the company provides portfolio and treasury management, due diligence, and ongoing education to assist institutions in adapting to the changing cryptocurrency landscape. Recently, Coinbase has successfully registered with India’s Financial Intelligence Unit (FIU), marking its return to the Indian market after halting operations in 2022. The firm is in discussions with Indian officials to obtain the required approvals for restarting its activities. Coinbase is also bolstering its footprint in Europe through proactive interactions with legislators and regulatory bodies. In reply to the European Commission’s request for information regarding the European Savings and Investment Union, the firm has supported the use of permissionless blockchains and a review of how cryptocurrencies are prudently treated. Additionally, Coinbase’s branch in Bermuda received regulatory clearance to function in that area, resulting in the establishment of the Coinbase International Exchange.