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    The Bull Case For Coinbase (COIN) Could Change Following PNC Tie-Up And India Reentry - Learn Why

    Simply Wall St·12/12/2025 06:18:53
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    • In recent days, Coinbase Global has partnered with PNC Bank to power direct bitcoin trading for eligible PNC Private Bank and institutional clients via its Crypto-as-a-Service platform, while also reopening user registrations in India after a two-year pause and expanding its investment in local exchange CoinDCX with plans for a rupee fiat on-ramp in 2026.
    • Together, these moves deepen Coinbase’s integration with mainstream banking and reestablish a presence in one of the world’s largest emerging crypto user bases, reinforcing its role as core infrastructure for digital asset access across both developed and developing markets.
    • We’ll now examine how Coinbase’s renewed India access and PNC Bank integration could reshape its investment narrative and long-term growth mix.

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    Coinbase Global Investment Narrative Recap

    To own Coinbase, you need to believe crypto will keep moving onto regulated, institutional rails and that Coinbase can convert that into durable fee and service revenue. Right now, the key near term catalyst remains institutional adoption, while the biggest risk is still pressure on trading volumes and fee levels as competitors undercut pricing. The new PNC and India announcements modestly support the adoption story, but do not remove the core volume and margin risks.

    Among recent developments, PNC Bank’s decision to embed bitcoin trading in its banking app using Coinbase’s Crypto as a Service platform looks most relevant. It directly reinforces the institutional partnership catalyst by putting Coinbase infrastructure behind a top 10 U.S. bank and potentially supporting higher quality, less retail dependent volume, even as competitive fee pressure and lower volatility remain important watchpoints for shareholders.

    Yet behind Coinbase’s expanding partnerships, investors should be aware that fee compression and weaker trading volumes could still...

    Read the full narrative on Coinbase Global (it's free!)

    Coinbase Global’s narrative projects $8.5 billion in revenue and $2.1 billion in earnings by 2028. This implies revenue growing 8.3% per year, but earnings declining by about $0.8 billion from $2.9 billion today.

    Uncover how Coinbase Global's forecasts yield a $383.46 fair value, a 43% upside to its current price.

    Exploring Other Perspectives

    COIN 1-Year Stock Price Chart
    COIN 1-Year Stock Price Chart

    Across 28 fair value estimates from the Simply Wall St Community, views on Coinbase stretch from about US$127 to US$510 per share. Against that backdrop, ongoing pressure on trading volumes and fees could weigh on how sustainably Coinbase converts its institutional partnerships into earnings, so it is worth comparing several of these viewpoints before forming your own view.

    Explore 28 other fair value estimates on Coinbase Global - why the stock might be worth as much as 90% more than the current price!

    Build Your Own Coinbase Global Narrative

    Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.