Coinbase is taking its “Everything Exchange” playbook north: the crypto giant is preparing to roll out a broader financial platform in Canada that will house tokenized stocks, traditional financial products and blockchain-native services inside a single app.
What’s happening
- Coinbase Canada’s CEO Eric Richmond says the company’s first phase in the country was building a regulated crypto exchange. Phase two is to turn that into an “Everything Exchange” — a one-stop app for Canadians to manage a wider range of financial products powered by blockchain.
- The company is coordinating with Canadian regulators on the rollout but has not given a firm launch date.
What the Everything Exchange includes
Coinbase has already outlined multiple product plans during its June System Update. Items being folded into the Everything Exchange strategy include:
- Tokenized equities (tokenized stocks backed one-for-one by real shares)
- Stock options, prediction markets, pre-IPO investment products
- An SEC-registered AI investment advisor and AI agents capable of executing trades on users’ behalf
Tokenized stocks: one-for-one, shareholder rights intact
- Richmond said Coinbase intends to begin offering tokenized stocks to non-U.S. customers later this month.
- These tokens are planned to represent ownership one-for-one with underlying shares (not synthetic derivatives), preserving access to dividends and shareholder voting — a key distinction Coinbase has emphasized.
- Tokenization can be done by brokers or dealers converting existing shares, though some companies may choose to issue blockchain-native versions of their own stock. Coinbase says tokenized equities should behave much like traditional shares while improving accessibility and collateral management.
Stablecoins and Canadian regulation
- Coinbase currently primarily supports USDC and has not listed any major Canadian-dollar stablecoin, saying none presently meet Canadian regulatory listing standards.
- Richmond pointed to proposed Canadian stablecoin legislation (the Stablecoin Act) that would classify certain stablecoins as regulated payment instruments rather than investments — a move he says could boost confidence and adoption for digital Canadian dollars.
- Regulated stablecoins could also cut cross-border costs and settlement times because blockchain payments settle almost instantly. Richmond highlighted industry scale, noting roughly $1.8 trillion in stablecoin transaction volume in June — a 125% year-over-year increase.
Global context and other moves
- The Canadian expansion comes as Coinbase broadens its regulated footprint worldwide. Earlier this month it secured authorization under the EU’s MiCA framework via Luxembourg, allowing services across all 27 EU member states plus Iceland, Liechtenstein and Norway.
- Coinbase has also eased identity verification for mainland Chinese users by accepting Chinese national ID cards and mainland addresses for onboarding, a change seen as making access easier in the region (though the company did not frame it as a full re-entry into China).
Competition and vision
- Richmond predicts rising competition from traditional brokerages as blockchain-based financial services become more common, arguing consumers increasingly question why financial services close at 4 p.m. when blockchain networks run 24/7.
- His near-term priority is to expand the range of products available to Canadian customers so more of their financial needs can be met in a single Coinbase app.
Bottom line
Coinbase is pushing to transform from crypto exchange into a multi-product financial platform in Canada, anchored by tokenized stocks and other blockchain-enabled services, while working with regulators on stablecoin and listing standards. If successful, the Everything Exchange aims to make equities, payments and new financial products more accessible and available around the clock.
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