Coinbase Global, Inc. (NASDAQ:COIN) is one of the 14 Most Promising Fintech Stocks to Invest In. On December 12, CNBC reported that Coinbase Global, Inc. (NASDAQ:COIN) is getting ready to launch its in-house prediction market powered by Kalshi, based on a source close to the matter. This step will allow the company to strategically expand the asset classes available on its crypto exchange at a time when investors are shifting away from digital assets.
The source noted that Coinbase Global, Inc. (NASDAQ:COIN) and Kalshi will formally announce the prediction market “soon,” maybe as early as next week. The partnership is not exclusive. However, Kalshi will be the only prediction market operator working with Coinbase Global, Inc. (NASDAQ:COIN) at launch.
Rumors about this launch started almost a month ago. On November 18, Silicon Valley researcher Jane Manchun Wong posted a screenshot on X. It showed what looked like Coinbase Global, Inc.’s (NASDAQ:COIN) prediction markets dashboard.
The Information reported on November 19 that the company plans to introduce Kalshi-powered prediction markets at its “Coinbase System Update” event on December 17. On December 11, Bloomberg reported that Coinbase Global, Inc. (NASDAQ:COIN) would also unveil a tokenized stock offering at the event.
These upcoming launches show Coinbase Global, Inc.’s (NASDAQ:COIN) aim to become an “everything exchange” for all kinds of assets, including crypto tokens, tokenized stocks, and even contracts. In May, CEO Brian Armstrong shared this vision with investors, noting that Coinbase is looking to become a leading financial services app within the next decade. As it pushes forward, Coinbase Global, Inc. (NASDAQ:COIN) faces growing competition from rivals.
Coinbase Global, Inc. (NASDAQ:COIN) is an American company that operates a platform for people and institutions to engage with crypto. It allows users to buy, sell, transfer, trade, stake, and store cryptocurrency assets.
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Disclosure: None. This article is originally published at Insider Monkey.
