Coinbase Launches Everything Exchange With Tokenized Stocks and Prediction Markets

Coinbase is set to launch an expanded on-chain exchange offering tokenized stocks, prediction markets, and early-stage token sales, marking a major step in its vision to become a comprehensive financial platform [1]. The new platform, which will debut in the United States first, aims to provide users with a unified system to trade a broad range of assets on a single interface [2]. This initiative, dubbed the “Everything Exchange,” represents Coinbase’s effort to transition from a crypto-centric platform to a broader financial super app [3].

The on-chain exchange will allow U.S. users to access tokenized equities and participate in prediction markets, all facilitated through blockchain technology [1]. This move positions Coinbase directly against existing players like Kalshi, the only federally licensed prediction market in the U.S., and Polymarket, which recently acquired a licensed derivatives exchange to enter the American market [2]. The inclusion of tokenized stocks also places Coinbase in competition with platforms such as Robinhood, Gemini, and Kraken, though many of these currently do not offer such services to U.S. investors, giving Coinbase a competitive edge [3].

According to Max Branzburg, Coinbase’s vice president of product, the platform’s goal is to create a more inclusive and efficient global financial system by bringing all asset classes on-chain [1]. The company has also rebranded its wallet application as the “Base app,” signaling its broader ambitions to serve as a digital hub for commerce and financial services [2]. This aligns with broader industry trends toward tokenization and blockchain-based financial infrastructure, which aim to simplify settlement and improve transparency.

Coinbase’s move into prediction markets underscores the growing interest in this niche but emerging asset class. These markets allow users to bet on the outcomes of events, such as elections or macroeconomic indicators, and have gained traction in regulated environments like Kalshi. The company’s inclusion of this feature reflects an increasing trend among regulated brokers to offer these products to meet rising demand [1].

Alongside the product announcement, Coinbase reported its quarterly earnings, revealing that spot trading activity had slightly declined compared to the first quarter of 2025 [1]. The company also disclosed a $307 million financial impact related to data theft incidents during the quarter [1]. Despite these challenges, the firm continues to push forward with its strategic vision, emphasizing the potential long-term benefits of on-chain asset integration.

The success of this initiative will depend on several factors, including regulatory support, user adoption, and the platform’s ability to differentiate itself from competitors [3]. Analysts note that the emphasis on blockchain-based settlement and transparency could attract both institutional and retail investors, particularly in markets where traditional financial infrastructure is less efficient [2]. However, maintaining liquidity and navigating evolving regulatory frameworks will remain key challenges for the platform’s long-term viability.

Coinbase’s strategic shift reflects broader industry moves toward the tokenization of traditional assets and the integration of blockchain technology into mainstream finance [2]. By unifying crypto, equities, and derivatives into a single platform, the company aims to simplify access to complex financial instruments and broaden its appeal beyond the crypto-native audience [3].

Source:

[1] "Coinbase to Offer Tokenised Stocks and Prediction Markets to U.S. Users in Everything Exchange," The Block, https://www.theblock.co/post/365141/coinbase-to-offer-tokenized-stocks-and-prediction-markets-to-u-s-users-in-everything-exchange-cnbc

[2] "Coinbase Unveils 'Everything Exchange' Plan to Bridge Crypto, Derivatives, Equities," Bitcoin.com, https://news.bitcoin.com/coinbase-unveils-everything-exchange-plan-to-bridge-crypto-derivatives-equities/

[3] "Coinbase to Expand Beyond Crypto With Tokenized Assets, Stocks," Tech in Asia, https://www.techinasia.com/news/coinbase-to-expand-beyond-crypto-with-tokenized-assets-stocks