Coinbase and Perplexity create AI-crypto fused market tracker

Coinbase has announced a partnership with artificial intelligence-powered search engine Perplexity AI to deliver real-time crypto data services. The collaboration, unveiled on Thursday by CEO Brian Armstrong, could improve the quality and accessibility of market information for digital asset traders by combining AI and blockchain technology.

The first phase of the integration will use Coinbase’s proprietary market data, including its COIN50 index, into Perplexity’s data systems. It will be used to power crypto market analysis for traders to track price movements before taking positions. 

CEO Brian Armstrong said the collaboration is the beginning of a multi-phase strategy to embed crypto functionality more deeply into AI tools.

“Users can double click into price moves to help make better informed trade decisions,” Armstrong posted on X. He added that the goal is to reach a point where crypto wallets are fully integrated into large language models (LLMs), which he called a “huge step towards a permissionless, digital economy.”

Coinbase and Perplexity create AI-crypto fused market tracker

In his X post, Armstrong said he was confident that the overlap between AI and crypto will deliver exponential value to both industries. “I expect enhanced crypto functionality will be a catalyst for AI to achieve another 10x unlock,” the 42-year-old business executive wrote.

Perplexity CEO Aravind Srinivas also commented on the partnership via X, stating: “Excited to partner with Coinbase to bring in real-time crypto data into Perplexity Finance! We will begin to surface this directly into user queries shortly.”

Excited to partner with @coinbase to bring in real time crypto data into Perplexity Finance! We will begin to surface this directly into user queries shortly. https://t.co/J1vPAsQFub

— Aravind Srinivas (@AravSrinivas) July 10, 2025

The LLM has already commenced ingesting Coinbase’s market data, including the COIN50 index, to support its analysis tools.

The second phase of the partnership will allow Perplexity to use Coinbase’s data to directly respond to user search queries. This will include a conversational interface to improve accessibility for retail and institutional users. 

The timing of the announcement is just a day after Bitcoin, the world’s largest crypto by market cap, surpassed $112,000 to hit a new all-time high. Market analysts believe that search traffic tends to spike during market bull runs, and there is now a relevance for real-time crypto data integrations like the one Coinbase and Perplexity are building.

Coinbase taps Copper’s ClearLoop for off-exchange settlement

In a separate development also announced earlier today, Coinbase revealed it has integrated with ClearLoop, an off-exchange settlement solution developed by London-based Copper. The new service will help institutional clients transact using crypto more flexibly in their trading operations.

Through ClearLoop, institutions can manage collateral and settle trades in near real-time without transferring assets directly onto the exchange. The platform’s multiparty computation (MPC) technology allows institutional clients to control their funds in centralized exchange trading. 

It could also reduce counterparty risk and improve capital efficiency, two long-standing concerns for professional traders operating at high volume. ClearLoop’s MPC-based model allows users to trade virtual balances on exchanges while actual settlement happens through Copper’s infrastructure.

According to Coinbase, there has been “high” demand for such infrastructure upgrades among clients who want to minimize the risks associated with moving large sums onto exchanges. 

“Institutions want this functionality and flexibility because ClearLoop enables a jumpstep in the off-exchange settlement times,” a Coinbase spokesperson said. “This improves the user experience of managing collateral, reducing counterparty risk, and improving capital efficiency.”

Ethena, a stablecoin protocol recognized for supporting the synthetic dollar USDe, has been named as one of the first partners to adopt the ClearLoop integration at launch. 

The service is regulated under the Bermuda Monetary Authority and is available only with USDC as the collateral asset. Coinbase promised to add support for additional assets in future updates.

“This significant integration with Coinbase International Exchange expands institutional access to rapid, secure off-exchange trading and settlement,” said Amar Kuchinad, global CEO of Copper.

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