Cryptocurrency Exchange giant Coinbase is preparing to expand its services beyond Crypto Assets to launch tokenized stocks and forecast markets for US users.
These new services will initially be launched for US users over the next few months and will then be approved by regulatory authorities.
“We’re building a comprehensive exchange,” explains Coinbase vice president of product Max Branzburg, explaining the company’s vision. “We bring all our assets on the chain, including stocks, forecast markets, and more,” he added, “We’re building an on-chain one-stop shop for everything we can trade.”
The new services include tokenized real-world assets, stocks, derivatives, forecast markets, and early stage token sales. The move places Coinbase directly against tokenized securities services offered by rivals such as Robinhood, Gemini and Kraken, particularly outside the US. CEO Brian Armstrong aims to make the company a “highest priority financial services app” within the next decade.
The Coinbase announcement comes hours after the US Securities and Exchange Commission (SEC) announced its “Project Crypto” initiative aimed at modernizing regulations on crypto-based trading activities.
*This is not investment advice.