Coinbase Expands Services to Include Stock Portfolio Transfers
- Coinbase now allows US users to transfer existing stock portfolios from other brokerages using the Automated Customer Account Transfer Service (ACATS).
- The platform’s expanded trading options include stocks, ETFs, and various financial products, with zero-commission trading available.
- Coinbase previously launched stock and ETF trading services earlier this year, initially offering access to around 6,000 securities.
- Users can earn up to a 3.5% reward on eligible USDC balances while utilizing TradingView charting tools and fractional shares.
- This move positions Coinbase to compete with traditional brokerages like Robinhood by integrating multiple asset types into one account.
Coinbase’s expansion into stock trading comes amid fluctuating revenues tied to cryptocurrency markets, as the company seeks to diversify its offerings beyond digital assets.
With the new features, Coinbase aims to reduce reliance on crypto volatility while enhancing user engagement through a multi-asset platform.(Source)
