Coinbase Launches Stocks and Prediction Markets in Push to Become an ‘Everything App’

Coinbase is accelerating its expansion beyond digital assets with the launch of stock trading and prediction markets, as the crypto exchange moves closer to its long-term ambition of becoming an “everything app” for financial services.

The new offerings were unveiled Wednesday during Coinbase’s year-end conference, where executives outlined a broader strategy to turn the company from a crypto-native platform into a multi-asset trading hub that rivals established retail brokers.

Stock Trading Goes Live on Coinbase

Max Branzburg, the exchange’s head of consumer and business products, confirmed that stock trading is now available on the platform, marking a significant step into traditional finance.

“This is a major milestone in our plan to enable 24/7 trading of stocks and ETFs from anywhere in the world, powered by crypto,” Branzburg said during the event.

While Coinbase has not yet disclosed the full scope of equities or markets supported at launch, the move places the exchange in more direct competition with platforms such as Robinhood and eToro, which have long offered both crypto and traditional financial products under one roof.

Prediction Markets Roll Out With Kalshi

In addition to stocks, the exchange is rolling out prediction markets through a partnership with Kalshi, a U.S.-regulated prediction markets platform. 

Branzburg said the feature will begin rolling out immediately, with availability expanding to U.S. users at a later stage.

Prediction markets allow traders to speculate on the outcomes of real-world events, including elections, economic indicators, and other measurable outcomes, depending on regulatory approval. Kalshi operates under the oversight of the U.S. Commodity Futures Trading Commission (CFTC), giving Coinbase a compliant pathway into a sector that has drawn increasing interest from both retail traders and policymakers.

The partnership confirms earlier speculation. Last month, tech researcher Jane Manchun Wong uncovered evidence suggesting the exchange was developing a prediction markets product backed by Kalshi, though neither company confirmed the plans at the time.

Perpetuals and Leverage Coming Next

Coinbase’s expansion strategy also includes leveraged products. Branzburg said the exchange plans to launch 24/7 perpetual contracts early next year, allowing users to bet on both crypto assets and stocks with leverage of up to 50 times.

Perpetuals, which do not have an expiry date, are already popular on offshore crypto exchanges but have been slower to reach U.S.-based platforms due to regulatory constraints. By extending perpetuals beyond crypto into equities-linked products, Coinbase is signaling a more aggressive push into advanced trading tools traditionally associated with derivatives platforms.

Also read: Coinbase Pushes for Stablecoin Collateral and DeFi Rules in Appeal to CFTC

The ‘Everything Exchange’ Strategy

Branzburg framed the growing product lineup as part of Coinbase’s broader vision for an “everything exchange.” The groundwork for this shift was laid earlier this year, when Coinbase rebranded its wallet app as an “everything app,” adding support for third-party apps, social features, and chat functionality.

The strategy is part of a wider industry trend toward aggregation, where platforms aim to become central hubs for trading, payments, communication, and onchain activity rather than single-purpose exchanges.

Bloomberg reported earlier this week that the exchange was preparing to launch stock trading and prediction markets, making Wednesday’s announcements largely expected.

Market Reaction and Valuation Debate

Coinbase shares closed Wednesday down more than 3.3%, before recovering roughly 1.5% in after-hours trading to $247.85. Despite the muted market reaction, Huang argued that the company remains undervalued relative to its peers.

Coinbase share price (Source: Google Finance)

Coinbase’s market capitalization currently sits below $66 billion, compared with Robinhood’s valuation of more than $104 billion.

As crypto and traditional finance continue to converge, Coinbase’s push into stocks, prediction markets, and leveraged trading underscores its belief that the next phase of growth lies in becoming a one-stop financial platform—rather than a crypto exchange alone.