Coinbase Adds Stock & ETF Trading via Yahoo Finance
The exchange is facilitating a convergence of digital assets and traditional markets.
Cryptocurrency exchange Coinbase has added the ability for users to trade stocks and exchange-traded funds (ETFs) through a deal with financial news and data provider Yahoo Finance, consolidating stock and crypto trading on a single platform, officials say.
Officials describe the move as a milestone in the convergence of digital assets and traditional markets. Coinbase says the partnership is part of an effort to shake up the financial services system by allowing customers to trade thousands of stocks 24 hours per day, five days a week. The company believes extended trading hours will help level the playing field, enabling investors to react more quickly to market-moving news.
Under the partnership, Yahoo Finance will provide stock and ETF research capabilities on its platform, while Coinbase will execute transactions. In return, the media company will integrate Coinbase’s real-time market data to enhance asset discovery and monitoring.
Users will be able to fund trades using both U.S. dollars and USDC, a stablecoin issued by Circle and pegged to the U.S. dollar.
The announcement forms part of a broader consolidation strategy that will see Coinbase add thousands more stocks in the coming months, officials say. The exchange also plans to broaden stock perpetual offerings in the spring to give foreign traders greater access to 24/7 exposure to U.S. equities. Over time, Coinbase intends to introduce tokenized stocks.
