Coinbase Races to Become the ‘Everything App’ for Crypto Trading
Coinbase made two main strikes this week, confirming plans to unveil prediction markets at an upcoming showcase occasion whereas opening its platform to tens of millions of unvetted Solana tokens.
The twin bulletins place Coinbase to compete throughout a number of fronts: in opposition to conventional crypto exchanges on blockchain entry, in opposition to Kalshi and Polymarket on prediction markets, and in opposition to Robinhood and MetaMask on platform consolidation.
Two main expansions coming
The Solana integration, announced at the Breakpoint conference in Abu Dhabi, allows direct buying and selling of all Solana tokens by an built-in decentralized change, eliminating the conventional itemizing course of. The transfer provides the platform’s greater than 100 million customers fast entry to tokens the second they launch.
“Millions of belongings are launching on chain on daily basis,” Andrew Allen, Coinbase’s senior protocol specialist, informed attendees. “This permits you to commerce any token on Solana the second they change into accessible on chain.”
Separately, Bloomberg reported that Coinbase plans to unveil prediction markets and tokenized equities at a showcase occasion scheduled for December 17.
The plans have been already suspected after a November leak revealed screenshots of a Coinbase-branded prediction product working by a partnership with Kalshi. Coinbase declined to affirm the product, however pointed to the December 17 occasion.
Breaking down boundaries to blockchain entry
Coinbase’s Solana integration represents a basic shift in how centralized exchanges function. The platform’s new decentralized change characteristic routes trades straight to on-chain liquidity swimming pools, eliminating weeks-long evaluate processes which have traditionally restricted which initiatives might attain mainstream buyers.
The integration builds on Coinbase’s November acquisition of Vector, a Solana-based buying and selling platform that enhances velocity, liquidity, and asset selection by connecting straight with Coinbase’s decentralized buying and selling system.
The technique mirrors strikes throughout the business. MetaMask recently launched event contracts by an unique partnership with Polymarket as mother or father firm Consensys prepares for an IPO.
Similarly, Robinhood has layered occasion contracts onto its inventory, crypto, and derivatives enterprise. The firm traded 2.5 billion contracts in October alone as CEO Vlad Tenev pursues the similar consolidation technique, not too long ago buying an change and clearinghouse to function its personal prediction markets infrastructure.
Industry alliance varieties for prediction markets
On the similar day, the Coalition for Prediction Markets launched with Coinbase, Kalshi, Crypto.com, Robinhood, and sports activities gaming platform Underdog as founding members.
“At Coinbase, our mission is to ship monetary freedom to the world – and prediction markets by nature democratize reality discovering and the looking for of reality,” stated Faryar Shizad, Chief Policy Officer at Coinbase. “We’re proud to be part of the Coalition for Prediction Markets as they work with policymakers to guarantee these markets develop and stay accessible to the American folks.”
Sara Slane, Kalshi’s head of company improvement and a coalition government, emphasised the regulatory focus: “We spent years working with the CFTC as a result of prediction markets should function with sturdy federal safeguards that forestall insider buying and selling, shield customers, and guarantee these markets stay clear and corruption-free.”
The coalition’s formation comes as prediction platforms face rising strain from state playing regulators and the American Gaming Association, which argues that occasion contracts circumvent established playing legal guidelines.
Macquarie analyst Chad Beynon initiatives the U.S. prediction markets business could reach $5 billion in annual volume, cut up between $4.4 billion in sports-only contracts and $600 million in non-sports derivatives.
This race to change into the “every little thing app” displays a broader wager that merchants choose consolidated platforms over specialised companies.
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