Coinbase Inc. has revealed ambitious plans to transform its trading platform into an all-in-one on-chain exchange, expanding far beyond cryptocurrency. The move was announced by Max Branzburg, Coinbase’s VP of Product, during an interview with CNBC.
“We’re building an exchange for everything,” said Branzburg. “Everything you want to trade, in a one-stop shop, on-chain. We’re bringing all assets on-chain — stocks, prediction markets and more. We’re building the foundations for a faster, more accessible, more global economy.”
The expanded offering will begin with tokenized versions of publicly traded U.S. equities. These will give users access to fractional shares, featuring near-instant settlement and 24/7 trading — an edge over traditional brokerages.
Coinbase also aims to launch on-chain prediction markets, allowing users to trade outcomes of real-world events — similar to Polymarket, but seamlessly integrated into its ecosystem.
Though no launch date has been announced, the rollout is pending regulatory approval in the U.S. Coinbase is reportedly seeking a no-action letter or exemption from the SEC to proceed.
This initiative positions Coinbase as a major force in the mainstream adoption of tokenized real-world assets and could push traditional markets closer to decentralized infrastructure.
The news comes as Coinbase reported disappointing Q2 earnings. For the quarter ending June 30, the company posted adjusted EPS of $0.12, down from $1.31 in Q1. Revenue came in at $1.497 billion, missing analyst expectations of $1.59 billion.
Transaction revenue dropped 39% quarter-over-quarter to $764 million. Spot trading volume also declined 40% to $237 billion. Meanwhile, subscription and services revenue totaled $656 million, with stablecoin revenue up 12% to $332 million.
Looking ahead, Coinbase expects July transaction revenue to reach around $360 million, and subscription/services income to range between $665 million and $745 million.
