值得信賴的政策洞察。 嚴謹的研究。
Coinbase Institute 是全球加密貨幣經濟政策研究中最值得信賴的來源。我們的工作支持健全的政策、推動創新，並協助促進全球的經濟自由。
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From the Unbanked to the Unbrokered:
Unlocking Wealth Creation for the World
For decades, income growth from capital has dramatically outpaced that from labor, but capital ownership remains a privilege of the few. We must bridge this divide by transitioning from the current system that excludes the majority to one that empowers them. The solution lies in the convergence of technology and policy. By harnessing the transformational potential of tokenization and open blockchains, we unlock global markets for billions of savers and those wishing to raise capital. When the barriers of traditional financial infrastructure disappear, access to investment opportunities becomes as normal as owning a phone. This allows ordinary people to finally capture the upside from innovation and economic growth. This is how we narrow the capital chasm and increase economic freedom.
January 19, 2026
Read time: 3 min (executive summary) - 35 min (whole document)
Past the point of no returns: Supporting interest and rewards on UK stablecoins
This paper recommends the FCA and Bank let UK stablecoin issuers pay interest to holders, allow regulated providers to offer activity/holding-linked rewards, and have the Bank remunerate systemic stablecoin backing assets held in central bank accounts.
Why DeFi Matters: The Case for Open Financial Infrastructure
Decentralized finance (DeFi) uses open-source protocols and smart contracts to allow global value transfer without intermediaries. It offers continuous access, asset portability, and instant settlement, promoting financial inclusion.
Users in four states have missed out on an estimated $100M+ in less than two years
Regulators in California, New Jersey, Maryland, and Wisconsin issued misguided cease-and-desist orders in June 2023 prohibiting Coinbase users from staking additional assets. Coinbase is permitted to offer its staking services in nearly every other state. Users in these four states should be permitted to stake, too.
