Coinbase Expands Beyond Crypto With Stocks, Prediction Markets, and Tokenization Push

Coinbase is making its most ambitious move yet to transform itself into a mainstream, all-in-one financial platform, expanding well beyond cryptocurrencies and into retail investing, derivatives, and prediction markets.

The digital asset exchange announced Wednesday a broad slate of new products designed to turn Coinbase into a single destination for trading and financial engagement, as competitors demonstrate the revenue potential of always-on, multi-asset platforms.

From Crypto Exchange to Full-Scale Trading Platform

Coinbase’s expansion includes stocks trading, a streamlined futures and perpetuals experience, and prediction markets through its partnership with regulated platform Kalshi. The company is also advancing a tokenization roadmap aimed at eventually bringing traditional assets — including equities — onto blockchain rails.

CEO Brian Armstrong said the goal is clear: make Coinbase the place where users can trade everything.

While many of these initiatives have been signaled over recent months, Coinbase says the products are now built and ready for rollout.

Prediction Markets Become a Key Battleground

Prediction markets are emerging as one of the most competitive segments in digital finance. Rivals are moving quickly: DraftKings is acquiring its own exchange, FanDuel is partnering with CME, Polymarket is entering the U.S. via a newly approved venue, and Robinhood is scaling its regulated push through LedgerX.

The core rivalry remains Kalshi versus Polymarket, highlighting the tension between regulated market infrastructure and crypto-native liquidity.

Armstrong emphasized that prediction markets are not just about trading, but about understanding collective sentiment.

“People are using prediction markets to figure out what’s going to happen next — almost like a competitor to traditional media,” Armstrong told CNBC.

Tokenized Equities as the Long-Term Vision

Coinbase’s move into traditional stocks is only an interim step, according to Armstrong. The company’s broader ambition is to enable tokenized equities, which could unlock global access, faster settlement, and new market structures.

To support this vision, Coinbase is launching Coinbase Tokenize, an institutional platform designed to facilitate real-world asset tokenization.

“If we can get tokenized equity live, it could democratize access globally,” Armstrong said, calling the current expansion “the starting point.”

Expanding On-Chain Infrastructure for Businesses and Developers

Beyond retail trading, Coinbase is broadening its on-chain infrastructure offerings. The company announced that Coinbase Business will become available to eligible customers in the U.S. and Singapore, alongside an expanded API suite covering custody, payments, trading, and stablecoins.

Coinbase is also introducing custom stablecoins for companies seeking branded payment rails and highlighting x402, a payments standard designed to simplify stablecoin transactions for web-based and automated commerce.

Retention and Diversification at the Core

The strategic logic behind the expansion is diversification and user retention. By offering access to multiple asset classes — crypto, stocks, derivatives, and on-chain financial tools — Coinbase aims to keep users engaged even during periods of lower crypto trading volumes.

Armstrong framed the strategy as part of a broader shift.

Armstrong’s broader thesis is that crypto represents an upgrade to the financial system itself, with every major asset class eventually moving on-chain — from equities and prediction markets to commodities and real-world assets.

George Osborne to Lead Global Advisory Council

Coinbase recently appointed former UK Finance Minister George Osborne to chair its Global Advisory Council. Coinbase aims to increase its influence on policy-making outside the U.S., including in Britain and the European Union, the company’s chief policy officer Faryar Shirzad told Reuters.

Osborne will guide the company on policy engagement outside the U.S., including in the UK and EU. “Chairing the Global Advisory Council will give me more opportunity to learn about the revolution that blockchain, stablecoins, and tokenisation are bringing to our financial system,” Osborne said.