Coinbase is pushing for a broader platform expansion in Canada, aiming to extend crypto asset trading to stocks, ETFs, and prediction markets, and improve transfer and transaction efficiency through on-chain settlement. There is currently no clear timeline for when the full product will launch locally.
Tokenized stocks were the first to be implemented.
Eric Richmond, head of Coinbase Canada, recently stated that the company's next phase aims to enable users to complete more comprehensive financial transactions within a single application. According to current plans, tokenized stocks will be the first non-crypto product to be launched under this model.
According to a previous official blog post by Coinbase, tokenized shares for non-US users are expected to launch this month, including Canadian users. These products record real company shares on-chain, support instant settlement, retain full dividend rights, and are not subject to the trading hours of traditional exchanges.
US operations have already commenced.
Coinbase's presence in the US is more mature. The company will open stock and ETF trading to eligible US users in February 2026, while its prediction market will launch even earlier, in January 2026, in partnership with Kalshi, a prediction market operator under federal regulation.
According to reports, Coinbase's US platform roadmap already covers nearly 10,000 stocks and ETFs. In contrast, the Canadian market is still in the regulatory coordination phase, so there is no clear launch date for the full version of the integrated trading platform.
CAD stablecoin still awaits rule completion.
Coinbase stated that it is in communication with Canadian regulators. In April 2024, Coinbase became the first international cryptocurrency exchange to complete its registration in Canada, providing a compliance basis for its subsequent expansion into more asset classes.
Currently, a key factor influencing the formation of localized platforms is the Canadian dollar stablecoin. The report mentions that the Bank of Canada is expected to finalize its stablecoin implementation rules by 2027. Until then, Coinbase cannot list the CAD stablecoin, which is considered a crucial step for the platform to complete its local settlement and transfer loop.
Pressure on transaction volume prompts business diversification
The report also noted that the market is not optimistic about the short-term performance of Coinbase's core trading business. According to CNBC, citing trading data from the Kalshi platform, speculators believe there is only a 41% probability that Coinbase's trading volume will exceed $160 billion in the second quarter of 2026, lower than the consensus analyst estimate of $168.5 billion compiled by FactSet.
Coinbase is expected to release its earnings report on July 30, with the market widely anticipating a third consecutive quarterly decline in trading volume. Against the backdrop of a weakening crypto market and a significant drop in Bitcoin's price from its October 2025 high, Coinbase's push into businesses such as stocks, ETFs, and prediction markets is seen as a move to reduce its reliance on revenue from a single crypto trading platform.
- Tokenized shares are expected to launch to non-US users this month.
- The launch date for the full Canadian platform has not yet been announced.
- The CAD stablecoin still needs to wait for the rules to be finalized in 2027.
