Coinbase has started rolling out stock trading to a limited group of users, marking a significant step in its effort to build an all-in-one financial platform that spans cryptocurrencies, equities, and alternative assets. The initial offering allows customers to trade US-listed stocks using traditional market infrastructure, positioning the crypto exchange more directly against established brokerages and hybrid platforms such as Robinhood.
The stock trading feature is powered by Apex Fintech Solutions, which provides clearing and custody services, and is expected to expand to a broader user base in the coming weeks. Coinbase Chief Executive Officer Brian Armstrong has framed the move as a pragmatic bridge between traditional finance and blockchain-based markets, while acknowledging that fully tokenized equities remain a longer-term objective. According to Armstrong, regulatory coordination with the Securities and Exchange Commission will be essential before shares can be issued natively onchain with voting and dividend rights.
Platform Expansion and Competitive Landscape
The launch deepens Coinbase’s competition with firms like Schwab, Fidelity, and Robinhood, which already offer integrated access to stocks and digital assets. Unlike some rivals that rely on third-party issuers for tokenized equities in offshore jurisdictions, Coinbase has indicated it plans to develop such products internally once regulatory conditions allow. Market data shows growing interest in tokenized real-world assets, with transfer volumes for tokenized equities reaching roughly $2.4 billion over the past month.
Beyond stocks, Coinbase has been expanding into adjacent markets, including regulated prediction markets through a partnership with Kalshi. These initiatives align with Armstrong’s broader strategy to position Coinbase as a primary financial application, supported by stablecoin payments, developer tools, and its Base blockchain. The approach reflects a belief that traditional financial activity will increasingly migrate onto blockchain-based infrastructure over time.
Regulatory Headwinds and Institutional Context
Coinbase’s expansion comes amid ongoing regulatory debate in Washington over crypto market structure and tokenization rules. Armstrong recently withdrew support for a draft Senate banking bill, arguing it could restrict tokenized equities and stablecoin-related revenue models. The decision highlighted tensions between crypto firms, traditional banks, and tokenization specialists competing for influence over future market rules.
Despite the friction, institutional interest in digital assets continues to grow, supported by spot crypto exchange-traded funds and increasing experimentation with tokenized collateral. Coinbase management has said clearer regulation and rising institutional participation could reinforce its strategy, even as near-term uncertainty weighs on sentiment. The stock trading rollout underscores the company’s attempt to diversify revenue while navigating a complex and evolving regulatory environment.