Coinbase trading in equities, ETFs as it broadens product line beyond crypto

Coinbase has rolled out stock and exchange-traded fund (ETF) trading to all U.S. customers, marking a significant expansion beyond its core digital asset business as it strives to become an "everything exchange." This new feature allows users to trade U.S.-listed stocks and ETFs 24 hours a day, five days a week, with no commission, and supports fractional shares starting at $1, funded by U.S. dollars or USDC. This strategic move places Coinbase in direct competition with retail brokerages like Robinhood and aims to diversify its revenue streams, potentially decoupling its stock performance from the volatility of Bitcoin. To support this launch, Coinbase has partnered with Yahoo Finance for research-to-trade functionality and real-time data, and it is using Apex Fintech Solutions for clearing, custody, and execution. The company also intends to expand 24/5 trading to more stocks and has expressed interest in offering tokenized stocks on blockchain networks.

(Source：CoinDesk)