Table of Contents

• Stock Trading: Hundreds of US stocks, zero fees, 24/5 trading
• Market Prediction: Integrating Kalshi to trade elections, sports, economic events
• Perpetual Contracts and Solana DEX Integration
• AI Financial Advisors and Enterprise Services
• Base Blockchain Globalization, Token Issuance Still in Exploration
• Intense Market Competition

Coinbase (COIN), the largest US-listed Crypto exchange, announced a major product expansion during the “System Update” live broadcast on Wednesday, officially launching new features including Stock Trading, Prediction Markets (integrating Kalshi), Perpetual Contracts, Solana DEX integration, and AI financial advisors, aiming to create an “Everything Exchange.”
(Background: Bloomberg: Coinbase to launch prediction markets and tokenized US stocks next week, moving towards an “All Things Exchange”)
(Additional context: US stock tokenization boom: Bybit, Robinhood, Kraken launching simultaneously, is this the biggest narrative of the cycle?)

Coinbase, the largest US Crypto exchange, officially announced a large-scale product expansion plan on Wednesday, covering stock trading, prediction markets, perpetual contracts, and decentralized exchange (DEX) integration, marking the company’s strategic shift from a pure Crypto exchange to a “Universal Exchange” covering traditional finance and digital assets.

Coinbase stated that it is significantly expanding the types of assets tradable on the platform, including new Crypto, perpetual contracts, stocks, and prediction markets. The prediction markets will first integrate the Kalshi platform, valued at 11 billion USD, with more partners to follow.

Stock Trading: Hundreds of US stocks, zero fees, 24/5 trading

Max Branzburg, Head of Consumer and Business Products at Coinbase, revealed that although the list of stocks available for trading is still being adjusted, it will cover hundreds of top stocks, selected based on market cap, trading volume, and other indicators, with plans to expand to thousands of stocks and ETFs in the coming months.

This integration simplifies portfolio management, allowing users to buy, sell, and manage stocks, ETFs, and crypto assets within the same Coinbase account and app using USD or USDC. The official blog states:

“Traders will enjoy zero-fee trading, unrestricted by traditional market hours—trade your top stocks 24/7, five days a week.”

In early next year, Coinbase plans to expand its stock perpetual contracts feature, enabling traders outside the US to access 24/7, capital-efficient US stock exposure via the app. This service will be supported by Coinbase Tokenize—a newly launched end-to-end institutional-grade RWA tokenization platform that will provide retail investors with a tokenized stock trading pipeline.

Prediction Markets: Integrating Kalshi to trade elections, sports, economic events

Through integrating the valuation of 11 billion USD prediction market platform Kalshi, Coinbase users will be able to trade on real-world events such as elections, sports matches, collectibles, and economic indicators. The prices of event contracts are determined by collective trading activity of market participants.

Market research indicates that the global prediction market sector is worth approximately 15 billion USD, becoming a fiercely contested market among major platforms. Several months ago, Coinbase expanded internal policies to prohibit employees, including senior executives, from participating in prediction market trading to avoid insider trading concerns.

Perpetual Contracts and Solana DEX Integration

Coinbase stated that it has simplified derivatives trading processes, allowing users to conduct larger trades with less upfront capital and enjoy more favorable tax treatment when trading in crypto and commodities markets.

Branzburg said: “We currently offer more than 30 futures and perpetual contracts in the US, covering crypto, commodities, and stock indices, with plans to expand to hundreds of contracts. As of this week, we have provided 15 perpetual futures contracts for cryptocurrencies like BTC, ETH, SOL, XRP.”

In the coming weeks, Coinbase will expand its decentralized exchange (DEX) integration, supporting Solana tokens. The main trading app will integrate the popular Solana DEX aggregator Jupiter, allowing users to safely swap tokens without leaving the app.

AI Financial Advisors and Enterprise Services

Coinbase also launched Coinbase Business—a financial platform designed for startups and SMEs using cryptocurrencies, now open to all qualifying businesses in the US and Singapore. Business users can conduct global payments via payment links and invoices, manage crypto assets through Coinbase Advanced, and automate financial workflows using Coinbase’s compliance infrastructure.

Additionally, Coinbase introduced Coinbase Advisor, an AI-powered financial advisor tool. The company states: “Users don’t need to manually assemble trades; just tell the AI their goals and questions—such as ‘Help me build an investment portfolio’ or ‘What’s the latest market news and how does it affect me?’—and receive personalized advice driven by Coinbase’s products, data, and tools.”

Base Blockchain Globalization, Token Issuance Still in Exploration

Coinbase’s Ethereum Layer 2 blockchain Base has now officially launched in over 140 countries worldwide. Previously, analysts speculated that this product release might include an announcement of a native Base token.

In response, Branzburg said: “We are continuously exploring the potential of the Base token, but currently have no updates to share.”

Fierce Market Competition

Offering a “Swiss Army knife” all-in-one trading platform has become a recent focus of competition. Major Crypto trading competitors of Coinbase, such as Robinhood, Kraken, and Gemini, have launched tokenized stock products for international users and are also exploring prediction markets.

The US regulatory environment has changed significantly in recent years. The US Securities and Exchange Commission (SEC) has tacitly permitted certain tokenized stocks to be traded 24/7 on the blockchain. However, at the SEC Investor Advisory Committee meeting in early December, market makers like Citadel and Coinbase engaged in heated debates over the regulation of US stock tokenization, indicating ongoing regulatory uncertainty in this field.

For Coinbase, this large-scale product expansion marks a critical step in its transformation from a Crypto exchange into a “financial operating system.” If it can successfully integrate stocks, prediction markets, and DeFi functions, and gain regulatory approval, Coinbase is poised to lead its 11 million monthly active users into a new era of multi-asset trading.