Coinbase Global (NASDAQ: COIN) won regulatory approval to offer stock trading and expanded derivatives services in the United Kingdom, broadening its business beyond cryptocurrencies as it works toward becoming what it calls an “everything exchange.”
The company said the UK Financial Conduct Authority granted it an investment services authorization, also known as a MiFID licence. The approval allows Coinbase to offer traditional financial products alongside its existing crypto services.
Retail customers will gain access to stock trading through the platform for the first time. Meanwhile, institutional and advanced traders will be able to trade derivatives tied to cryptocurrencies, equities and commodity perpetual futures.
However, UK retail investors still cannot access crypto derivatives because current Financial Conduct Authority rules prohibit those products. As a result, stock trading will become the main addition for everyday users.
Coinbase said the approval supports its goal of combining stocks, crypto, derivatives, payments, savings and prediction markets within a single application. The strategy places the company in competition with traditional brokerages, banks and financial technology platforms.
Additionally, Coinbase has expanded its product lineup in other markets. In the United States, it recently introduced crypto perpetual futures, began rolling out stock trading, launched prediction markets through Kalshi and announced plans for tokenized equities.
The company also recently introduced savings and borrowing products for UK customers.
Furthermore, Coinbase said the new authorization complements its existing UK e-money licence and crypto registration. The company described itself as the country’s most comprehensively regulated crypto business.
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Coinbase is not alone with this strategy
Britain is also preparing broader crypto regulations. The Financial Conduct Authority published its proposed framework in late June, and the full regulatory regime is scheduled to take effect in October 2027. Coinbase cited regulator research estimating about 7 million UK adults already own cryptocurrency.
Coinbase is not alone in pursuing an “everything exchange” strategy. Several other financial technology and cryptocurrency companies have raced to combine stocks, digital assets and derivatives under one platform.
Robinhood Markets (NASDAQ: HOOD) follows a similar path after building its business around commission-free stock trading before expanding into cryptocurrencies, options, prediction markets and tokenized equities. The company has also pushed into international markets by securing licences in Europe and other jurisdictions.
Meanwhile, crypto exchange Kraken has broadened its services beyond digital assets by adding futures, custody and institutional trading. The company has also expanded into traditional equities in selected markets while pursuing regulatory approvals across Europe.
eToro Group Ltd. (NASDAQ: ETOR) has long offered stocks, exchange-traded funds, commodities and cryptocurrencies through a single platform. Unlike Coinbase, eToro also emphasizes social investing, allowing users to follow and copy other investors’ portfolios.
However, building a broad financial platform has required each company to satisfy multiple regulators. Coinbase has generally pursued licences before launching new products. It has, however, faced enforcement actions and fines related to anti-money laundering controls and compliance procedures in several jurisdictions.
Additionally, Robinhood has paid regulatory penalties in the United States over compliance, operational controls and customer communications. Despite those setbacks, the company has continued expanding by obtaining additional licences for new products and markets.
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Regulatory divide has become more pronounced
Kraken has also invested heavily in regulatory approvals rather than relying on lightly regulated markets. Consequently, it has strengthened its position in Europe as governments implement comprehensive rules for crypto businesses.
The industry’s regulatory divide has become more pronounced as governments tighten oversight. Several exchanges have secured approvals by expanding compliance programs and obtaining brokerage, payments and crypto licences. Conversely, companies that struggled to meet evolving regulatory standards have faced restrictions, fines or market exits in some jurisdictions.
The trend suggests regulators increasingly favour diversified platforms that operate within established financial rules while expanding access to digital assets and traditional investments.
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