The crypto exchange is deepening its push into traditional finance by enabling ACATS stock transfers and expanding trading products beyond digital assets.
Coinbase is allowing users to transfer existing stock portfolios onto its platform, marking another step in the company’s push beyond cryptocurrency trading and toward becoming a full-service financial platform.
On Tuesday, Coinbase unveiled expanded stock and exchange-traded fund (ETF) trading through Coinbase Advanced, its platform for active traders, allowing US users to transfer existing portfolios from other brokerages directly onto the exchange. The update builds on the stock and ETF trading service Coinbase launched earlier this year, which initially provided access to roughly 6,000 securities.
The company is also offering zero-commission trading, TradingView charting tools, fractional shares and up to 3.5% rewards on eligible USDC (USDC) balances.
A Coinbase spokesperson told Cointelegraph that users will be able to physically transfer their holdings to the platform through the Automated Customer Account Transfer Service (ACATS), which enables securities and cash to move between brokerages without being sold.
Screenshot from a Coinbase account. Source: Coinbase
The expansion positions Coinbase to compete more aggressively with traditional brokerages and fintech platforms such as Robinhood by allowing users to manage stocks, ETFs and cryptocurrencies from a single account rather than across multiple services.
Coinbase’s Tuesday announcement also revealed a broader expansion of its trading offerings, including plans for crypto and stock options, thematic equity index perpetual futures, pre-IPO perpetuals and expanded prediction markets. Coinbase said tokenized stocks will be available to customers outside the United States beginning next month.
While some features are available immediately, others will roll out over the coming months, with no initial timeline provided.
Related: Coinbase launches 24/7 stock perps for non-US traders
Coinbase’s continued expansion beyond crypto comes as competition in the online brokerage industry intensifies and the company looks to diversify revenue streams that have historically been tied to digital asset markets.
The company's financial performance has often tracked crypto price cycles. For example, Coinbase reported stronger-than-expected fourth-quarter 2024 earnings, with a post-election rally fueling a 130% jump in revenue.
Source
This article is syndicated for educational reading. For the latest updates, visit the original publisher.
Read on cointelegraph.com
