American cryptocurrency exchange Coinbase is set to introduce new services, including prediction markets and tokenized stocks. This initiative is being developed in collaboration with U.S. operator Kalshi and is expected to be announced during Coinbase’s system update event in December. Coinbase invites its users to join the live broadcast of the event to receive the latest updates. Prediction markets allow users to speculate on various events, such as elections or sports outcomes, and have been gaining popularity recently as both traditional exchanges and crypto platforms adopt them as new trading tools. Kalshi’s partnership with Coinbase marks a significant step toward integrating its event contracts into mainstream trading platforms. Kalshi has already launched its prediction market on Robinhood and is in talks with other brokers. Coinbase CEO Brian Armstrong has long envisioned creating an “everything exchange” where users can access not only crypto tokens but also tokenized stocks and event-based contracts. This move comes amid a slight decline in cryptocurrency investment interest, with users seeking alternative investment opportunities. Traditional exchanges like Robinhood, Gemini, and Kraken are also introducing similar services, particularly outside the U.S. Through tokenized stocks, users will be able to invest in representations of real-world stocks, opening new avenues for investment. Coinbase’s advancement in this area will position it alongside platforms already offering such financial instruments, marking an important step toward becoming a comprehensive financial platform enabling the trading of various asset types.
Source: bitcoinmagazine
