Coinbase takes direct aim at brokerages and robo-advisors with tokenized shares that carry real dividends and shareholder rights, set to launch next month for non-US users.

To a packed room in Manhattan, Coinbase on Tuesday announced the next phase of what it calls the ‘Everything Exchange’, a sweeping expansion that pushes the company well beyond crypto into stocks, options, derivatives, prediction markets, and AI-driven investing.

The reveal, led by Coinbase executive Max Branzburg, framed the platform as a single account meant to replace a user’s brokerage, advisor, and bank. “The Everything Exchange is becoming the most powerful platform for you to trade every asset in the world,” the Coinbase executive told the audience at the announcement event.

Tokenized Stocks That Represent ‘True Ownership’

The centerpiece is tokenized stocks. Branzburg took direct aim at rival “tokenized equity” products, which he said merely hold some underlying stock and issue derivatives against it: “You own an IOU at best, and that’s not the system update that we’re looking for.”

Coinbase’s version, he said, is “true stock ownership, fully on-chain,” with tokens “backed one for one, so you’ll actually own the shares, get the dividends, and have all the shareholder rights you would expect.” Holders can also trade them 24/7, lend them for interest, use them as loan collateral, or gift them. The tokenized shares roll out next month for non-US customers.

Pre-IPO Perps Ahead of Hot IPO Summer

Coinbase also launched pre-IPO perpetual futures, which give traders exposure to private companies before they list. “SpaceX just launched last week, Anthropic and OpenAI are coming up, and you can now count on Coinbase for early exposure to all of the hottest IPOs before they’re listed,” Branzburg said. The company added thematic indices with 20x leverage on AI, China, defense, and the top 100 tech stocks, and said options trading for US users will begin “in the coming weeks.”

The launch builds on Coinbase’s earlier move into stock trading and prediction markets, and on its $2.9 billion acquisition of derivatives exchange Deribit, completed in 2025, which it is folding into a unified global liquidity pool. The tokenized stocks also put Coinbase in direct competition with Robinhood and Kraken, which already offer similar tokenized-equity products outside the United States.

On prediction markets, Coinbase introduced “hundreds of new crypto binary markets,” including 15-minute contracts, plus combos, “the ability to roll up multiple predictions into a single, much more powerful position.”

From Centralized to Decentralized Offerings

Coinbase also introduced Coinbase Advisor, an SEC-registered, AI-powered investment advisor rolling out first to Coinbase One members, and Coinbase for Agents, which lets users turn an AI agent loose on their portfolio within set limits. It also added prediction-market combos, which bundle several bets into one position, and a New Launches tab for trading new Base and Solana tokens the moment they go live.

Base also announced a number of new features, including B20 tokens that are similar to ERC-20 tokens on Ethereum. In keeping with the AI theme, it also introduced a Base MCP that works with any AI agent, as described by Base head Jesse Pollak. And jumping onto another popular crypto narrative, Pollak also said Base is adopting a privacy architecture that includes auditability and compliance tools for regulators.