Coinbase is bringing its “Everything Exchange” vision to Canada — and that could put tokenized stocks, traditional financial products and blockchain-native services into a single app for Canadians.
What’s happening
- Coinbase Canada’s CEO Eric Richmond says the company’s first phase in Canada focused on standing up a regulated crypto exchange. Phase two will expand that single-app vision so users can manage a broader suite of financial products “underpinned” by blockchain tech.
- The company is working with Canadian regulators on the rollout but hasn’t set a public launch date.
Tokenized stocks coming soon (outside U.S.)
- Richmond told BNN Bloomberg Coinbase plans to start offering tokenized stocks to customers outside the United States later this month.
- These tokenized equities will be backed one-for-one by real shares — not synthetic derivatives — and Coinbase has said they will provide access to dividends and shareholder voting rights.
- Coinbase positions tokenized stocks as functioning much like conventional equities while improving accessibility and collateral management. Shares can be tokenized by brokers/dealers or issued directly by companies interested in blockchain-native securities.
Everything Exchange: more than crypto
- The Canadian push follows Coinbase’s broader Everything Exchange strategy unveiled at its June System Update, which included plans for:
- An SEC-registered AI investment advisor
- AI agents that can execute trades for users
- Stock options, prediction markets, pre-IPO investment products
- Tokenized equities
- Richmond framed the move as an upgrade to legacy financial infrastructure — a 24/7, frictionless alternative to markets and banking systems that still operate on business hours.
Stablecoins and Canada’s regulatory approach
- Coinbase primarily supports USD Coin (USDC) and doesn’t yet list a major Canadian-dollar stablecoin because no existing token meets Canadian regulators’ listing standards.
- Richmond said proposed Canadian stablecoin legislation — the Stablecoin Act — aims to regulate stablecoins as payments rather than investments, which could boost confidence and adoption. Regulated stablecoins could also speed and lower the cost of cross-border transfers by enabling near-instant settlement.
- He pointed to roughly $1.8 trillion in stablecoin transaction volume during June, a 125% year-over-year increase.
Global expansion and regulatory moves
- The Canadian plans come amid rapid international expansion. Coinbase recently received authorization under the EU’s MiCA framework through Luxembourg, enabling it to offer regulated crypto services across the EU and several EEA countries.
- Coinbase has also simplified identity verification for mainland Chinese users by allowing registration with Chinese national ID and mainland addresses — a move investors saw as making the platform more accessible in the region.
What to expect
- Richmond expects competition with traditional brokerages to grow as blockchain-based financial services become widely available. Over the next year his priority is expanding the product slate for Canadian customers so they can access more services from a single Coinbase platform.
Bottom line: Coinbase is pushing to convert its crypto exchange foothold in Canada into a one-stop financial app, with tokenized, on-chain versions of conventional assets and an eye on regulated stablecoins — all contingent on ongoing engagement with Canadian regulators.
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