Coinbase and Gemini are expanding beyond cryptocurrency into stocks, payments, prediction markets, and stablecoins

Coinbase and Gemini are pushing beyond mainstream crypto trading to create steadier, more diversified revenue streams. By branching into stock trading, payment systems, and prediction markets, the exchanges hope to shield themselves from crypto market fluctuations.

Diversification Strategies

Coinbase: Building a "full-blown financial platform" with 24/7 stock trading, futures, and stablecoins. Goldman Sachs recently upgraded its stock to a "buy" rating.
Gemini: Launched its own prediction market and a payment card that creates a "flywheel effect"—half of card users eventually become exchange users.

Wall Street remains divided; while William Blair and Goldman Sachs are optimistic about long-term value, Mizuho Securities maintains a neutral rating on Coinbase, citing heavy reliance on retail trading fees.