Coinbase big moves are reshaping the exchange into a broader financial platform, with plans that stretch from perpetual futures and tokenized stocks to small‑business banking and major payment partnerships. The company was the first crypto exchange to list on a U.S. stock exchange in 2021, and it is now laying groundwork for 2025 and beyond through new products, acquisitions, and a steady expansion of on‑ and off‑chain rails.
Key Points
The strategy arrives as Coinbase develops the Base network—and says it is exploring a Base network token—while pursuing integrations that blend crypto with mainstream finance. Through 2025, Coinbase big moves focus on three fronts: an “Everything Exchange,” a business‑banking arm, and payments partnerships that lean on a new stablecoin framework.
An “Everything Exchange” vision takes shape
Coinbase big moves begin with a push to become a one‑stop shop for a wider range of assets. Management has outlined a roadmap that layers derivatives, equities, commodities, and even prediction markets on top of its existing crypto trading, banking, and lending tools.
Derivatives are a central pillar. Coinbase Chief Executive Officer Brian Armstrong noted that derivatives account for about 80% of global crypto trading volume. The product mix has started to broaden:
- In July, Coinbase launched perpetual futures trading in the U.S. Perpetuals have no set expiration, offering a flexible path to leverage. Coinbase offers up to 10x leverage to eligible U.S. crypto investors on its perpetual contracts.
- In August, Coinbase completed its acquisition of Deribit, a leading global crypto options venue. At the end of October, Deribit customers represented more than 90% of the $55.4 billion in Bitcoin open interest, according to The Block. Deribit is not currently available to U.S. customers.
- Coinbase is also eyeing tokenized stock trading. Reuters reported the company is seeking Securities and Exchange Commission approval for a U.S. launch. Similar offerings have appeared in other markets as competitors pursue equity‑linked tokens abroad.
Alongside those steps, Coinbase has signaled interest in prediction markets—another tool that can broaden how investors express views and manage risk. The road is not without obstacles. Several elements of the “Everything Exchange” require regulatory approvals. Still, Coinbase big moves on this front may benefit from an emerging consensus: leaders at the SEC and the Commodity Futures Trading Commission have discussed the appeal of super apps that give customers access to multiple investments in one place.
Derivatives, tokenization, and scale
The derivatives build‑out complements Coinbase’s work on tokenization. Tokenized stocks, if approved, could allow customers to trade blockchain‑based representations of equities. That sits alongside the company’s development of the Base network and its exploration of a potential Base network token.
Coinbase big moves here are meant to do two things at once: deepen trading liquidity through futures and options, and expand access to traditional assets via tokenization. Together, they move the exchange closer to a blended financial marketplace rather than a pure crypto venue.
Banking for builders: Coinbase Business
Coinbase big moves are not limited to individual investors. The company launched Coinbase Business to serve small and midsize enterprises (SMEs), targeting long‑standing pain points in traditional banking.
Coinbase Business offers instant settlements, interest generation on USDC balances, and a no‑fee sign‑up process. Integrations with accounting software are designed to simplify tax filings. By the end of October, Coinbase had onboarded 1,000 businesses and reported another 1,000 on a waitlist. Market Reports estimates the small business banking market could be worth $165 million by 2033.
The initiative fits a larger ecosystem play. Coinbase acquired Echo, an on‑chain early investment platform, in a $375 million deal. Echo helps crypto projects raise capital and gives investors a window into private‑equity‑style opportunities. Earlier, Coinbase bought Liquifi, a token management platform, in July. The company says the combination supports its broader tokenized asset vision and makes the Coinbase stack attractive to crypto entrepreneurs, who can build projects and raise funds in one environment.
Stablecoins and payments: partnering with big names
Coinbase big moves also extend to payments. A new policy backdrop is shaping that effort. The Genius Act, enacted in July, created a framework for stablecoins—tokens pegged to real‑world currencies such as the U.S. dollar—reducing compliance uncertainty and paving the way for wider adoption.
J.P. Morgan Global Research estimates the stablecoin market could reach as much as $750 billion in the next couple of years. Coinbase is leveraging its experience bridging assets on and off-chain to partner with banks and payment providers as they integrate stablecoins.
At the end of October, the company announced a collaboration with Citigroup to develop digital‑asset payments. The move showcases how Coinbase big moves in stablecoin infrastructure could plug into global banking networks and corporate payment flows.
Why diversification matters for revenue
Despite a broader product portfolio, transactions still represented more than 50% of Coinbase’s Q3 2025 revenue. That concentration works when crypto enthusiasm is high, but it becomes a risk in quieter markets. Coinbase big moves—derivatives expansion, business banking, and payments—are all geared toward reducing reliance on trading fees and building steadier income streams.
If successful, the strategy could smooth revenues across cycles and make the business less exposed to periods that resemble a crypto winter.
What experts and data points say
- Leadership focus: Coinbase big moves prioritize derivatives because that’s where most crypto trading volume resides. Perpetual futures launched in the U.S. with up to 10x leverage, reinforcing the pivot.
- Market structure: Deribit’s options footprint—more than 90% of the $55.4 billion in Bitcoin open interest at October’s end, per The Block—adds scale to Coinbase’s derivatives ambitions, even though Deribit isn’t available to U.S. customers.
- Tokenized equities: A Reuters report said Coinbase is seeking SEC approval to offer tokenized stock trading in the U.S., mirroring services some rivals run overseas.
- SME banking: Coinbase Business has onboarded 1,000 firms with another 1,000 on a waitlist by late October, positioning the platform as a service hub for entrepreneurs.
- Stablecoins: The Genesis Act reduced friction for stablecoins, and J.P. Morgan Global Research projects the market could approach $750 billion in the near term. Coinbase’s partnership with Citigroup highlights how those rails could be used in payments.
The road ahead: execution and approvals
For Coinbase big moves to translate into durable growth, two ingredients are critical. First, regulatory approvals must keep pace with product plans—particularly for tokenized equities and expansion of derivatives access. Second, integration is key: acquisitions such as Echo and Liquifi need to plug cleanly into Coinbase’s existing stack so customers can move from building to fundraising to secondary trading without leaving the ecosystem.
These are moving parts, and each comes with sequencing risk. But the pieces are in motion, and the stated objective is clear: become a multi‑asset platform that spans trading, financing, and payments.
Competitive posture
Coinbase big moves also respond to competitive pressure. Other providers already offer tokenized equities outside the U.S., and within crypto, derivatives venues shape liquidity, price discovery, and institutional participation. By adding perpetuals, options scale, and a path to tokenized stocks, Coinbase aims to meet traders where the volume sits while opening doors for new users who prefer equity‑linked products.
On the enterprise side, Coinbase Business and the Echo acquisition speak to a race for founders and SMEs. If teams can raise capital, manage tokens, and tap business banking in one stack, switching costs increase, and network effects can strengthen.
What to watch in 2026
- Derivatives penetration: Uptake of U.S. perpetual futures and the broader options footprint will signal how quickly Coinbase big moves are resonating with active traders.
- Tokenized stocks: Progress on SEC approval will determine if and when U.S. customers can access equity tokens on Coinbase.
- Business banking scale: Growth beyond the initial 1,000 onboarded firms—and conversion of the 1,000‑strong waitlist—will indicate whether Coinbase Business can expand in the SME market.
- Payment traction: Outcomes from the Citigroup collaboration will show how stablecoin rails translate into real‑world payment flows.
- Ecosystem flywheel: Integration among Base, Liquifi, Echo, and the exchange could reveal how tokenization, fundraising, and secondary markets connect.
Conclusion
Coinbase big moves for 2025 and beyond outline a platform that reaches far past spot crypto trading. The “Everything Exchange” vision centers on derivatives, tokenized assets, and potential prediction markets. Coinbase Business targets SMEs with instant settlements, USDC yield, and tax‑friendly integrations. Payments partnerships—anchored by a stablecoin framework and a new tie‑up with Citigroup—aim to merge on‑chain efficiency with off‑chain reach.
The company’s acquisitions of Deribit, Echo, and Liquifi fit this arc, while work on the Base network and a possible Base network token broaden its technical base. With transactions still over half of Q3 2025 revenue, the strategy is designed to diversify and stabilize the top line. If approvals arrive and integrations hold, Coinbase big moves could define how the platform competes in 2026 and beyond.
FAQ’s
What are the biggest Coinbase moves for 2025?
Coinbase is pushing derivatives (U.S. perps up to 10x), integrating Deribit’s options scale, exploring tokenized stocks pending SEC approval, and developing the Base network, including a potential Base token.
What is Coinbase Business, and who can use it?
It targets small to mid‑sized companies with instant settlements, USDC interest, no‑fee sign‑up, and accounting integrations. Coinbase says 1,000 firms are onboarded with another 1,000 on the waitlist.
Is Coinbase bringing tokenized stock trading to the U.S.?
According to reports, Coinbase is seeking SEC approval. Timeline depends on regulators; rivals already offer tokenized equities in some non‑U.S. markets.
How do stablecoin partnerships like Citi affect Coinbase?
With a new U.S. framework, stablecoins could scale rapidly (J.P. Morgan sees up to $750B). A Citi collaboration aims to enable faster, lower‑cost digital‑asset payments for institutions.
