Crypto to Stocks: Coinbase Bets Big on Becoming an ‘Everything App’

Coinbase, the leading U.S. cryptocurrency exchange, announced a major expansion aimed at transforming its platform into an “Everything Exchange.” During its “System Update” event, the company rolled out stock trading and prediction markets, marking a significant step toward integrating traditional finance with digital assets.

Stock trading is now available in the main Coinbase app for U.S. users, starting with hundreds of top equities and ETFs based on market cap and volume. Trades are commission-free, with extended hours—24 hours a day, five days a week—allowing users to react to news outside traditional market times. Users can fund and manage stocks alongside crypto using USD or USDC in a single account. Coinbase plans to add thousands more stocks and ETFs in the coming months, with future tokenized equities on the horizon through its upcoming Coinbase Tokenize platform.

Prediction markets, integrated via a partnership with Kalshi (the largest U.S. regulated prediction platform), enable users to trade contracts on real-world outcomes like elections, sports, economic indicators, and events. Starting small (as low as $1), these markets aggregate crowd wisdom for potentially better forecasting than polls. Coinbase intends to add more providers over time.

This move diversifies Coinbase’s revenue beyond volatile crypto trading fees, boosting user engagement and retention. CEO Brian Armstrong emphasized building a one-stop app for “every asset,” competing directly with platforms like Robinhood while leveraging crypto rails for efficiency.

Challenges remain, including U.S. regulatory scrutiny for stocks and event contracts. Still, the expansion bridges crypto and traditional investors, potentially redefining retail finance as boundaries blur.