Coinbase Expands into Prediction Markets and Stock Trading

Deep News12-18 08:37

Coinbase Global Inc., the largest U.S. cryptocurrency exchange, announced its official entry into prediction markets and stock trading. The company stated on Wednesday that both services have begun their rollout process and will be available to all eligible U.S. users in the coming weeks.

"Today, Coinbase has evolved into an ideal platform for trading various assets, not just cryptocurrencies," said CEO Brian Armstrong during the product launch. This move is a key part of Coinbase's strategy to build an "all-in-one app"—offering traders diversified asset and market choices while keeping pace with competitors' expansion efforts. Coinbase also mentioned that users can purchase stocks using the USD-pegged stablecoin (USDC).

Analysts at Deutsche Bank Research noted in a report, "This strategy is expected to significantly broaden the company's target market (covering both retail and institutional clients), enrich its product and service offerings, and help mitigate potential future pricing pressures in the retail cryptocurrency trading sector." They also highlighted that new services like prediction markets could be a critical driver of the company's growth.

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