Coinbase Bets Big on Becoming the 'Everything Exchange': Tokenized Stocks, Crypto and Equity Options All Coming

Coinbase has unveiled a wave of new products including tokenized stock trading with automatic dividends, options trading for both crypto and traditional equities, borrowing against staked Solana, and an upgraded Coinbase One Card travel portal. The exchange wants to become the single home for every kind of financial need.

For years, Coinbase has been one of the go-to places for people buying Bitcoin and Ethereum. But the publicly traded crypto exchange no longer wants to be defined by crypto alone. Its plan now is to become a single home for nearly everything people do with their money, a true one-stop shop for finance.

What Coinbase announced on Tuesday
On Tuesday the company laid out a cluster of new products at once. The list includes upcoming options trading for both crypto and traditional equities, tokenized stock trading that pays out dividends automatically, the ability to borrow against staked Solana, and a new travel portal tied to the Coinbase One Card that hands back bigger Bitcoin rewards.

 
According to Ben Shen, Coinbase's Head of Financial Services, a single idea ties all of it together. “The throughline, in terms of Coinbase’s overall mission, is economic empowerment,” Shen told TrendKia. “It is essentially allowing customers to use money in their everyday lives, the way they want.”

Shen said the firm's foundation still rests on crypto traders and investors, but the goal is to turn Coinbase into a user's primary financial account, a place where they can spend, send, trade, invest and borrow without leaving. The end ambition, he said, is to become the “everything exchange.”

Bring your stock portfolio straight to Coinbase
Before equity options trading goes live in the coming months, Coinbase will let users transfer in their existing stock portfolios and trade them directly on the platform. The company is building out a more robust trading setup aimed at equities holders.

'Real 1:1 backed' tokenized stocks
Earlier on Tuesday, Coinbase CEO Brian Armstrong used social media to push the firm's incoming tokenized stock effort, drawing a line between it and rival tokenized products that he framed as merely some form of derivative or IOU. Coinbase says its version will pay dividends automatically on the stocks a user holds.

“For the first time, these are real 1:1 backed tokenized stocks you can trust. You own an actual chunk of the company on-chain,” Armstrong wrote on X. He added that other current solutions amount to a derivative or IOU rather than real ownership, while Coinbase's product would deliver all the benefits of true ownership.

Pre-IPO perps and SpaceX
Recently the firm announced pre-IPO perps, which let traders place a short or long bet on companies before they list publicly. That feature is starting with the record-breaking SpaceX IPO.

A bigger boost for the Coinbase One Card
The company's signature credit card, the Coinbase One Card, is also getting an upgrade. The Bitcoin rewards card will pay 5% in Bitcoin back on purchases made through its new travel portal, powered by Rocket Travel by Agoda, instead of the usual 2-4% in rewards. The card will now also work with USDC backing, opening it up to people who may not have an approved credit history.

So far, Shen said, the move beyond plain spot crypto trading has gone over well. “We've seen a lot of customers once again kind of embrace this concept of I can hold it all in one place, I can grow it, and I can use it,” he added.

From mortgages to AI agents
That same drive to become the “everything exchange” recently led Coinbase to take part in the first government-guaranteed Bitcoin-backed mortgage, and to launch a tool that lets AI agents make trades and transfers on a user's behalf. TrendKia has reported that Fannie Mae-backed Bitcoin home mortgages have finally arrived. In May, Coinbase also became the first U.S. centralized exchange to win approval to offer crypto perpetual futures.

“We think that a lot more people are going to want to buy crypto, even far beyond our existing customer base,” Shen told TrendKia. “Coinbase is a great place for them to do that, in addition to fulfilling their other needs.”

More features in the pipeline
The firm additionally announced new prediction market contracts for time-based crypto price predictions, instant access to new token launches on Solana and Base, the Coinbase-incubated Ethereum layer-2 network, and new transfer controls for added account security.

What this means for you
What this means for you:

• For investors: You will be able to trade both crypto and traditional stocks in one place on Coinbase, with tokenized stocks paying dividends automatically.
• For card users: The Coinbase One Card's new travel portal pays 5% back in Bitcoin instead of the usual 2-4%, and USDC backing means people without an approved credit history can use it too.

Questions & Answers

1. How are Coinbase's tokenized stocks different from others?
According to Brian Armstrong, they are real 1:1 backed tokenized stocks that give you an actual chunk of the company on-chain, while other solutions are just a derivative or IOU. They will also pay dividends automatically.

2. How much Bitcoin reward does the Coinbase One Card now offer?
It pays 5% back in Bitcoin on purchases made through its new travel portal, instead of the usual 2-4%. The portal is powered by Rocket Travel by Agoda.

3. What is Coinbase launching pre-IPO perps with?
It is starting with the record-breaking SpaceX IPO, letting traders place a short or long bet on a company before it lists publicly.

4. What milestone did Coinbase reach in May?
In May, Coinbase became the first U.S. centralized exchange to win approval to offer crypto perpetual futures.

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