Crypto exchange Coinbase (Nasdaq: COIN) unveiled a sweeping vision to become the “everything exchange” on July 31, coinciding with the release of its second-quarter 2025 earnings. In a series of posts on social media platform X, the company laid out its intention to integrate millions of crypto assets, derivatives, and tokenized traditional securities into a unified onchain trading platform. Coinbase posted: “We’re building the everything exchange. → Millions of assets → Derivatives → Tokenized equities. And a lot more, all in one place.” The announcement followed Q2 results that showcased new momentum in derivatives, decentralized exchange (DEX) integration, and infrastructure development.

Coinbase’s chief executive, Brian Armstrong, reiterated the long-term thesis behind the expansion on social media platform X:

Coinbase is becoming the everything exchange. All assets will inevitably move onchain, so we want to have everything you want to trade in one place.

In Q2, Coinbase launched a broad suite of CFTC-regulated perpetual futures in the U.S., reported record activity on its international derivatives exchange, and initiated its acquisition of Deribit, a global crypto options platform.

The company also surpassed 300 spot listings and revealed plans for DEX integration into its Base App—aiming to make millions of tokens accessible within a single user experience.

Max Branzburg, Coinbase’s vice president, emphasized the scale of the company’s ambition:

Imagine all of this in one place: millions of crypto assets, derivatives, tokenized equities, and more.

He pointed to tokenized equities as a key next step, describing the $100 trillion traditional equity market as ripe for onchain transformation. With the Base App now in open beta and stablecoin usage expanding across payments and financial services, Coinbase is positioning itself to serve as the default venue for a fully tokenized global economy.

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