Key facts
- Coinbase now allows US users to transfer existing stock and ETF portfolios onto its platform.
- The service utilizes the Automated Customer Account Transfer Service (ACATS) for seamless asset movement.
- This expansion positions Coinbase to compete with traditional brokerages by offering a unified account for stocks, ETFs, and cryptocurrencies.
- New trading products include crypto and stock options, thematic equity index perpetual futures, and expanded prediction markets.
- The company aims to reduce its reliance on volatile cryptocurrency trading revenues.
Coinbase is significantly broadening its financial services by enabling US users to transfer their existing stock and exchange-traded fund (ETF) portfolios directly onto its platform. This move, announced Tuesday, marks a strategic push beyond cryptocurrency trading to become a more comprehensive financial platform, directly challenging traditional brokerages and fintech companies.