Coinbase is reportedly readying to launch its prediction markets and tokenized stocks next week amid growing investor demand in these sectors.
Bloomberg has reported that the US-based crypto exchange will unveil prediction markets and tokenized equity trading on December 17.
While there is no formal communication from the company, recent screenshots on social media have revealed the proposed designs for the prediction markets and digital stocks features. The company’s spokesperson, in the report by Bloomberg, refused to confirm the information but welcomed viewers to watch the product launch on the December 17 livestream.
Notably, Coinbase will introduce in-house tokenized stocks, unlike competitors who rely on external partners.
Coinbase’s plan to offer comprehensive trading features
The prediction markets and tokenized stocks fall under Coinbase’s plan of being a one-stop shop for crypto traders and investors.
Coinbase had announced in July that it was planning to introduce tokenized stocks and blockchain-based prediction markets and it recently partnered with Kalshi, which chose to use Coinbase Custody to hold the USDC on its trades.
Notably, the plan to launch tokenized stocks comes at a time when tokenized equity trading is increasing, with monthly transfer volumes increasing 32% to $1.45 billion, according to rwa.xyz data.
The prediction markets hype
The crypto industry has experienced a rapid expansion of prediction markets in the recent past amid the positive regulatory climate created under the Trump administration.
On Wednesday, Gemini was granted the CFTC permission to conduct a regulated prediction market. This move positions the platform alongside others aiming to tap into the market.
Robinhood has also entered into a joint venture with Susquehanna to launch an exclusive futures and derivatives platform in an effort to capture a larger share of the estimated $10 billion industry.
Robinhood and trading company Susquehanna have also settled on buying 90% of the regulated venue LedgerX to increase their share in the event-based crypto derivatives market.
Moreover, Crypto.com has collaborated with Trump Media and Technology Group to assist in the introduction of new prediction market services.