**Coinbase** has launched its stock trading service targeting US customers, positioning itself as an 'everything exchange' despite entering a market dominated by established players like Robinhood.
CEO **Brian Armstrong** stated in an interview with Fortune that he envisions a long-term future where tokenized stocks are traded 24/7 on blockchain infrastructure rather than traditional payment and settlement systems.
Currently, Coinbase offers commission-free (zero commission) trading targeting major stocks and ETFs in the U.S. through its subsidiary, Coinbase Capital Markets, and has made it possible to receive orders 24/7 for five days a week. They plan to expand services to thousands of additional listings in the future.
Vision for blockchain-native stocks
Armstrong predicted in an interview that blockchain-native stocks will emerge within the next two years. He suggested that startups would adopt this method before traditional corporations, which would later recognize blockchain as a superior technology for equity management.
Armstrong stated, "We have deep crypto expertise, are the most trusted cryptocurrency brand, and hold more cryptocurrency assets than any company," positioning Coinbase as a key bridge between traditional finance and the cryptocurrency market.
Additionally, Coinbase plans to launch stock perpetuals for traders outside the U.S. by early 2026. This product will offer leverage exposure through a structure of derivatives with no expiration, which has already established itself in the cryptocurrency market.
See also: Belgium's KBC Bank Launches Bitcoin Trading Through Bolero Under MiCA Framework
Market dynamics and competitive landscape
In recent years, Robinhood's stock price has risen much more significantly than Coinbase's, despite Coinbase holding a strong brand in the cryptocurrency market and a market capitalization of $66 billion.
The launch of this stock trading service is part of Coinbase's broader move to expand its business through partnerships such as with Kalshi for prediction markets and a platform for tokenizing real assets aimed at institutional investors.
Armstrong hinted that Coinbase could be the first company to pay dividends in Bitcoin, but the regulatory framework for blockchain-native securities is not yet fully established. Bills like the GENIUS Act, which focuses on stablecoins, are in the process of refining the rules in this area.
It remains uncertain whether the cryptocurrency-centric customer base will actually embrace stock trading on a large scale. The success will likely depend on whether Coinbase can create differentiators beyond simply 'extending trading hours' to attract customers from existing brokerages.
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