TL;DR
- Coinbase has started testing stock trading with a limited group of users, marking its first direct entry into US equities after years focused on crypto markets.
- The initiative supports CEO Brian Armstrong’s strategy to build a multi-asset platform that connects digital assets with traditional finance.
- The rollout also reinforces Coinbase’s long-term interest in tokenized equities as regulatory discussions around onchain finance continue to advance.
Coinbase has begun offering stock trading to a select group of users, expanding its scope beyond cryptocurrencies and stablecoins. The move places the Nasdaq-listed exchange closer to direct competition with established brokerages and retail platforms that already combine equities and digital assets. It also reflects a broader push to integrate crypto infrastructure with traditional market access.
Coinbase Tests Stock Trading With Select Users
The initial rollout enables approved Coinbase customers to trade US-listed stocks directly within the platform. At this stage, the service mirrors commission-free brokerage models, using a familiar interface designed to appeal to crypto-native traders entering equity markets. Coinbase, founded in 2012, brings years of experience in custody, compliance, and digital trading systems to a market where regulatory requirements are stricter and competition remains intense.
By entering equities, Coinbase challenges platforms such as Robinhood, Charles Schwab, and Fidelity, all of which already serve large retail investor bases. Coinbase differentiates itself through a crypto-first approach that emphasizes secure custody, global accessibility, and the potential for faster settlement. For users who already manage crypto portfolios, unified access to multiple asset classes reduces operational friction and supports portfolio diversification.
From Multi Asset Platform To Onchain Equities
Brian Armstrong has consistently outlined a vision of Coinbase as an all-in-one exchange where users trade crypto, stocks, and other financial instruments. Stock trading serves as a bridge toward that model, rather than an endpoint. Armstrong argues that equities will eventually move onchain, allowing near-instant settlement, improved transparency, and programmable ownership features.
Tokenized equities remain controversial among regulators and public companies. Concerns persist around governance, shareholder rights, and dividend distribution. Coinbase maintains that properly structured one-to-one tokenized stocks, fully backed by underlying shares, can address these issues. Progress depends on regulatory coordination with agencies such as the SEC and clearer US market structure rules.
Coinbase’s stock trading test highlights the ongoing convergence between crypto and traditional finance. While the current product resembles existing brokerage services, its strategic importance lies in preparing users and regulators for a more integrated, onchain financial system. If adoption grows, Coinbase strengthens its position as a bridge between digital assets and equities, reinforcing the role of crypto-native platforms in mainstream markets.
