Coinbase (COIN) has unveiled a suite of products spanning stocks, derivatives, artificial intelligence and consumer finance as it continues its path toward becoming what the company calls an "everything exchange."
The announcements, made Tuesday as part of Coinbase's latest "System Update," shows how the largest U.S. crypto exchange is increasingly competing not only with digital asset platforms but also with brokerages, banks and fintech firms. Earlier today, the company said it is launching tokenized stocks backed one-for-one by underlying U.S. equities.
Among the most significant additions are plans to offer options trading for both cryptocurrencies and stocks, giving users access to strategies traditionally associated with more sophisticated investors.
Coinbase is also expanding its push into equities. Customers can now transfer stock portfolios from other brokerages and trade U.S. stocks, exchange-traded funds (ETFs) and indexes through Coinbase Advanced, alongside cryptocurrencies.
The company is simultaneously broadening its derivatives business. New products include perpetual futures tied to thematic baskets such as artificial intelligence, defense and Chinese equities, as well as pre-IPO perpetual futures that provide exposure to private companies including SpaceX (SPCX), which went public earlier this month. Coinbase said contracts tied to OpenAI and Anthropic, which are anticipated to go public later this year, are expected to follow.
The exchange is also betting heavily on prediction markets, an area that has grown rapidly across crypto and traditional finance. New offerings include short-term crypto prediction contracts and bundled wagers that allow traders to combine multiple forecasts into a single position.
A major focus of the update is artificial intelligence.
Coinbase introduced Coinbase Advisor, which it described as one of the first SEC-registered AI-powered investment advisory tools. Initially available to Coinbase One subscribers in the U.S., the service aims to provide portfolio recommendations, tax-loss harvesting guidance and market analysis.
The announcements reflect CEO Brian Armstrong's long-term vision of turning Coinbase into a full-service financial platform that combines trading, payments, lending and asset management. Competition continues intensifies across crypto and traditional finance, with exchanges increasingly racing to become the primary destination for trading stocks, digital assets and tokenized financial products from a single account.
The company is also building tools that allow AI agents to execute trades automatically within user-defined limits.
At the same time, Coinbase is expanding its financial services business. New offerings include a travel portal that provides 5% bitcoin rewards on bookings, a USDC-backed version of its Coinbase One credit card and borrowing against staked Solana (SOL) through integrations with Jito and Morpho.
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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