Coinbase Global Wants to Be More Than a Crypto Exchange—Much More

Core Insights - Coinbase Global has announced new products and services aimed at becoming a comprehensive financial "everything app" [1] - The company plans to offer stock trading, prediction markets, a tokenization platform, and an AI-powered roboadvisor [1] - Coinbase's goal is to be the leading financial app within the next five years [1] Industry Context - The concept of a super app has been pursued by various sectors, including retail and financial services, with companies like Robinhood and SoFi also expanding their service offerings [2] - Super apps, such as WeChat and KakaoTalk, have not yet made a significant impact in the U.S. market [3] Strategic Goals - Coinbase aims to deepen relationships with existing customers and expand its potential customer base through a broader range of offerings [3] - The strategy is expected to increase the share of wallet from customers who previously used multiple platforms for different trading needs [4] Market Implications - This diversification of services is anticipated to widen Coinbase's addressable markets and mitigate potential pricing pressures in retail crypto trading [5] - Deutsche Bank analyst Brian Bedell has initiated coverage of Coinbase with a Buy rating and a price target of $340, indicating a potential upside of nearly 40% from its recent closing price [6]