"Coinbase is taking its biggest step yet into the broader financial sector. On Wednesday, the company announced customers will now be able to trade stocks on its platform, and also place bets on a wide range of events through a partnership with prediction market startup Kalshi. The moves signal that Coinbase is moving beyond its longtime roots as a cryptocurrency company, and are likely to intensify its rivalry with fintech firms like Robinhood."
"The new stock trading feature is the most significant announcement by far as it will be a crucial test of whether Coinbase can leverage its dominant crypto brand to expand into other sectors. It will also allow it to compete more directly with Robinhood, which made its name as a stock-trading app, but has since made significant inroads into crypto.Coinbase will initially offer only a curated list of major stocks and ETFs, but says it will expand this to thousands of other stocks in coming months. The company says stock trading will be available 24 hours a day on five days of the week, and that there will be no fee to trade. Early next year, Coinbase plans to roll out perpetual futures for stocks-a type of derivative pioneered by the crypto industry that lets traders hold options that do not expire. The perpetual futures offering will only be available outside the U.S."
Coinbase announced stock trading and prediction-market betting via a partnership with Kalshi, signaling expansion beyond cryptocurrency services. The company unveiled new trading features and a Coinbase Business platform at the System Upgrade event in San Francisco, featuring presentations by CEO Brian Armstrong and other executives. Coinbase positioned itself as an "everything exchange" while withholding a release date for any cryptocurrency token to ensure a fair launch. Stock trading will begin with a curated list of major stocks and ETFs, expand to thousands of listings, operate 24 hours a day five days a week with no trading fees, and will include perpetual futures for stocks outside the U.S. early next year.
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