Coinbase targets Canada for 24/7 crypto and stock exchange

Coinbase is working with Canadian regulators to introduce an "everything exchange" that combines cryptocurrency, tokenized stocks, and prediction markets into a single application. Eric Richmond, CEO of Coinbase Canada, disclosed the plans in a Tuesday interview, noting the platform would use blockchain to offer continuous trading. The US-based exchange already provides stock trading and prediction markets to American users.

Tokenized stocks represent traditional equities adapted for blockchain networks, enabling trades to clear around the clock. For market professionals, this model threatens to disrupt established settlement processes and erode the pricing power of traditional brokerages. "I think people are starting to realize the fact that banks close at 4 p.m., or the markets close at 4 p.m., or that wires can take days to settle, or that access for high-net-worth individuals to certain products are gated for just those high-net-worth individuals," Richmond said.

The Canadian initiative highlights a strategic pivot for digital asset platforms attempting to capture traditional market share by offering bundled services. Competitor Kraken has similarly expanded beyond its original remit of digital tokens to offer equities and is developing its own prediction market. Richmond framed the end goal as fundamentally consolidating retail financial services. "How do we create that one place for Canadians to have their entire financial experience in one app that’s underpinned by this technology that makes things frictionless, seamless, and 24/7?" he said.

While pushing for retail adoption in Canada, Coinbase has simultaneously built deep institutional credibility in the United States. The firm holds seized digital assets for the US government and provides custody services to Wall Street giants like BlackRock. In April, it secured conditional approval from the Office of the Comptroller of the Currency for a national trust banking charter, a regulatory milestone that paves the way for it to manage assets for large entities on a federal basis.

This aggressive expansion into traditional finance territory has generated friction with incumbent banks. Coinbase is currently clashing with banking executives over yield-bearing stablecoin products, which the exchange views as a critical long-term revenue driver that could pull deposits from legacy institutions. Despite these tensions, the firm has secured high-profile integrations, including a deal with JPMorgan Chase that allows US customers to link their bank accounts directly to the crypto platform.

Richmond attributed the company's expansion strategy to the foundational capabilities of distributed ledgers. "Coinbase believes we have a new technology here that can really help with that, and that’s blockchain and the technology that underpins crypto today," he said.