Coinbase (NASDAQ:COIN) has announced the addition of 24-hour trading of equities five days a week in the UK. According to a note from Coinbase UK, customers will be able to trade approximately 4,000 stocks, as well as manage their crypto and other financial needs, all on the same app. Coinbase UK received investment services authorization in July. Coinbase launched equities and ETF trading in the US this past February.
Coinbase UK will now compete with the likes of eToro, Freetrade, Hargreaves Lansdown, Trading 212 and others. Its established crypto user base should help drive securities trading while encouraging new accounts.
Coinbase UK says that users may fund trades with either USDC or pounds sterling, with “eligible” users gaining access to “select US equities” and more rolling out over time.
Trading will include fractional shares and will charge no commission fees.
The UK is a key market for Coinbase after the US, and an important avenue for market growth. This is an extension of Coinbase’s ambition to build an “everything exchange” – the one platform individuals need to manage their investing and financial needs.
Coinbase notes that data indicates UK investors lag behind US investors in regard to equity investing. The company believes its service can help close the investing divide by providing access to US stocks for retail investors. Coinbase UK says it aims to be the top financial app in the UK.
CI connected with Keith Grose, Regional Managing Director UK and Europe at Coinbase, to gain more information on Coinbase’s strategy. Grose said their overall ambition is to grow Coinbase into a true one-stop shop for financial services, where customers can access crypto, stocks, stablecoins, savings, and more, on a single platform.
“We’ve made significant progress towards that in recent months, and the launch of US equities in the UK is an important milestone. We’re continuing to see strong engagement from customers across the UK, who increasingly want to manage both digital and traditional assets in one place.”
Grose said they are currently the largest and most trusted crypto player in the UK
Asked about continental Europe, Grose said the roadmap is fundamentally the same, subject to regulatory nuances. Coinbase holds a MiCA license from the Luxembourg regulator enabling services across Europe. According to one report, Coinbase wants to expand users from 14 million (2024) to 50 million in the coming year. Grose said that Europe is a strategic priority and they are working closely with regulators to build a compliant platform that brings more services to customers over time.
“Securing our UK MiFID license is a good example of that approach, expanding the permissions we need to deliver additional products, including derivatives for professional traders, retail equities and, potentially, more services as the regulatory framework evolves.”
He said their recent integration with the tokenization platform Spiko in France is an example of demand for fast, low-cost settlement.
Grose added that beyond trading, they are seeing growing demand for stablecoin-powered payments, staking, and investing.
“Customers increasingly want a platform that helps them not only invest, but also save, spend and move money globally with greater speed and lower cost. This trend is not only limited to retail investors, but is something we’re also beginning to see among institutional investors across the EU and the UK. Banks, asset managers and corporates are increasingly exploring how blockchain technology can improve payments, treasury management, custody and asset tokenization.”
Coinbase continues to build out infrastructure that supports not only individual investors but institutions too, as they aim to “bridge the gap between traditional finance and the next generation of financial markets.”