Coinbase Expands to Stock Trading, Prediction Markets

Coinbase Expands Offerings: Stock Trading, Prediction Markets, and BeyondCoinbase, a leading cryptocurrency exchange, is venturing into new territories by introducing stock trading and prediction markets. This strategic move aims to transform Coinbase into an Everything Exchange, enabling users to trade a diverse range of assets, from new cryptocurrencies to perpetual futures. The company unveiled these plans during its System Update stream, signaling a significant shift in its business model.Coinbase is also set to integrate with prediction market platforms, starting with Kalshi, with more partnerships expected in the future. This expansion comes as other crypto trading platforms like Robinhood and Kraken are also exploring similar ventures. The competitive landscape for all-in-one trading platforms is intensifying.The main Coinbase app will soon offer a simplified interface for trading futures and perpetual contracts, along with the ability to trade all Solana assets as soon as they are created. It will also feature primary token sales and the global launch of the Base App. This push into traditional financial markets reflects a changing regulatory environment in the U.S., where the Securities and Exchange Commission has shown increasing openness to the twenty-four-hour trading of some tokenized stocks on blockchains.While a full list of tradable stocks isnt yet available, Coinbases head of consumer and business products, Max Branzburg, indicated that hundreds of top stocks will be offered at launch, based on market capitalization and trading volume. The company plans to add thousands more stocks and exchange-traded funds, or ETFs, in the coming months. This integration will allow users to manage their stock and crypto portfolios all within one Coinbase app.This new feature will also provide zero-commission trading for stocks, without the usual constraints of traditional market hours. Users will be able to trade their favorite stocks twenty-four hours a day, five days a week, using either U.S. dollars or the stablecoin USDC. This development marks a significant step for Coinbase as it seeks to broaden its appeal beyond just cryptocurrency enthusiasts.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.