Coinbase Global, Inc. (NASDAQ:COIN) rolled out several new products during its Wednesday evening livestream event, “Coinbase System Update.” Here’s what you need to know.
- COIN stock is moving. See the chart and price action here.
The “Everything App”
Coinbase is making moves to rival other traditional investing platforms, announcing a slew of new updates on Wednesday, including giving users the ability to buy stocks. The crypto company will offer a new stock trading feature, which will begin rolling out on its platform for select U.S. users right away. Coinbase also laid out plans for tokenized trading, aiming to ultimately bring more assets on-chain.
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Coinbase has also formally integrated Kalshi to power its prediction markets, joining Robinhood Markets Inc. (NASDAQ:HOOD), which partnered with Kalshi earlier this year.
“You’ll be able to trade anything, anytime, anywhere,” the company said.
A key selling point is using USDC or a user’s crypto balance to instantly trade stocks or prediction contracts without needing to transfer funds back to a bank or a separate brokerage app.
Coinbase shares reacted positively to the news, climbing more than 1% in after-hours trading. The stock has fallen nearly 8% over the past month as crypto tumbled, but it remains up slightly on the year.
COIN Price Action: Coinbase shares climbed 1.36% to $247.50 in extended trading Wednesday, according to Benzinga Pro.
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