Coinbase Expands Services to Include Traditional Stocks and ETFs

Coinbase has made a significant shift in its core business model by introducing traditional stock and ETF trading for its US customers. The expansion offers over 8,000 tradable assets, available 24/5, allowing users to execute purchases using either US dollars or the USDC stablecoin.

The move is seen as a response to competitive pressures from established brokerage firms and an effort to attract new customer segments. By becoming an 'Everything Exchange,' Coinbase aims to unify various asset classes under one platform.

This strategic shift occurs amidst a challenging operational environment, with Bitcoin's price remaining under pressure and regulatory uncertainty surrounding digital assets in the US. However, by diversifying its business beyond cryptocurrency markets, Coinbase hopes to reduce its dependency on volatile crypto-related equities.