Coinbase is making a significant push to become a comprehensive financial "everything app" by introducing stock trading and prediction markets. The company is set to formally announce the launch of these new features at its "Coinbase System Update" event on December 17.
This move signifies Coinbase's ambition to broaden its services beyond cryptocurrency trading, integrating traditional assets with on-chain rails. Alesia Haas, Coinbase CFO, stated the company's goal is to become the "No. 1 financial app" within the next five years.
Stock Trading and Tokenized Equities
Coinbase is launching tokenized stock offerings, allowing users to trade digital representations of traditional stocks. This move aligns Coinbase with competitors like Robinhood and Kraken, which already offer similar products outside the U.S.. By offering tokenized stocks built entirely in-house, Coinbase differentiates itself from competitors that rely on external partners. The timing of this move coincides with a notable increase in the trading of tokenized equities, with monthly transfer volumes of blockchain-linked stocks rising 32% to $1.45 billion.
Prediction Markets
Coinbase is also entering the prediction market space, reportedly partnering with Kalshi, a U.S.-based operator. Prediction markets allow users to speculate on various outcomes, ranging from elections to sports events. Robinhood CEO shared that prediction markets are the “fastest growing business we've ever had." Robinhood's prediction market has reached over $100 million in annualized revenue in less than a year and is said to be on track for a $300 million run rate. Analysts anticipate significant growth in prediction markets, projecting an increase from $407.63 billion in 2025 to $916.11 billion by 2033. Gemini recently received approval to launch its own prediction markets, while Crypto.com has partnered with the Trump Media & Technology Group on similar initiatives.
Everything App Ambitions and Competition
Coinbase's expansion comes amid increasing competition from other platforms like Robinhood, Gemini, and Kraken, all of which are also exploring prediction markets and tokenized equity offerings. CEO Brian Armstrong stated in May that Coinbase aims to become a leading financial services app, offering access to crypto assets, tokenized stocks, and event-based contracts on a single platform.
Industry Impact
If the launch is successful, Coinbase could become one of the first major American platforms to combine crypto trading, prediction markets, and tokenized stocks within a single regulated infrastructure. This move increases competition in the market and confirms the trend toward convergence of digital assets and classic financial instruments. An industry alliance of prediction market operators is forming, including Coinbase, Robinhood, Kalshi, and others, with the goal of developing standards, increasing transparency, and strengthening trust from regulators.
Coinbase is also focused on expanding its global footprint and bridging traditional finance with crypto. The company has held discussions with major U.S. banks regarding pilot programs involving stablecoins, custody, and trading services. It has also re-entered the Indian market after a nearly three-year pause.
