Coinbase officially launched 24/7 stock trading and forecasting markets through partner Kalshi, advancing its strategy of building an “everything app” that goes beyond traditional digital assets.
The leading US cryptocurrency exchange is making a bold move by expanding its service portfolio far beyond just cryptocurrencies. This move marks Coinbase 's ambition to become a comprehensive financial platform, offering a diverse range of investment and trading products within a single ecosystem.
Max Branzburg, Coinbase's Head of Consumer and Enterprise Products, confirmed at the company's year-end conference that stock trading is now officially available on the platform. He emphasized that this is a significant milestone in the plan to enable 24/7 stock and ETF trading from anywhere in the world, powered by blockchain technology.
Prediction markets and Derivative products
In addition to stock trading, Coinbase has launched a prediction market through a strategic partnership with Kalshi. This product is rolling out immediately and will expand to the US market in the near future. Earlier last month, technology researcher Jane Manchun Wong discovered Coinbase developing this platform, demonstrating the company's thorough preparation.
According to plan, Coinbase will offer a perpetual contract product operating 24/7 early next year, allowing users to bet on price fluctuations of both cryptocurrencies and stocks with leverage up to 50 times. This is a popular Derivative product in the cryptocurrency market, but Coinbase is expanding its application to traditional assets as well.
Branzburg asserts that this new product portfolio is an essential part of Coinbase's "everything exchange" strategy. The company began laying the groundwork for ecosystem expansion in July of this year, when it renamed its wallet app to "everything app" and added decentralized applications, social networking, and chat features.
Coinbase's transformation reflects the convergence trend between traditional finance and blockchain technology, and demonstrates the efforts of cryptocurrency platforms to attract users through service diversification and enhanced convenience. With its existing infrastructure and large user base, Coinbase is positioning itself as a comprehensive financial hub in the digital age.
