Coinbase Expands Services: Stock Trading and Prediction Markets Launch

Coinbase has announced the launch of stock trading and prediction markets, marking a significant expansion of its services beyond cryptocurrency. During its System Update event, Coinbase executives stated that users will soon be able to trade a curated list of major stocks and ETFs, with plans to expand to thousands of additional stocks over time.

This new feature allows for 24/7 trading without commission fees, positioning Coinbase to compete directly with platforms like Robinhood. The integration of prediction markets, powered by Kalshi, will enable users to bet on various outcomes, such as elections and sports events.

Coinbase aims to diversify its offerings and enhance its status as an 'Everything Exchange.' According to Coinbase’s head of consumer products, Max Branzburg, this expansion reflects their commitment to evolving alongside the changing financial landscape.

Additionally, the company is introducing an AI-powered wealth management tool called Coinbase Advisor, designed to provide personalized financial guidance. The integration of these new features is indicative of Coinbase's strategy to leverage its established crypto brand while tapping into broader financial markets.