Coinbase has expanded plans for its “Everything Exchange” into Canada, bringing tokenized stocks, traditional financial products, and blockchain-based services closer to one platform for local users.
BNN Bloomberg reported that Coinbase is preparing to introduce its “Everything Exchange” strategy in Canada, a move that would extend the crypto exchange beyond digital asset trading and into a platform where customers can manage multiple financial products from a single application.
Eric Richmond, country director and chief executive officer of Coinbase Canada, told the outlet that the company’s first stage in the country focused on building a regulated crypto exchange. The next phase, he said, is centered on giving Canadians access to a wider financial experience powered by blockchain technology.
“If you think about our current financial sector and system today, it really is due for an upgrade. And Coinbase believes we have a new technology here that can really help with that, and that’s blockchain and the technology that underpins crypto today,” Richmond said.
Although Coinbase has not announced when the service will launch in Canada, Richmond said the company is working with Canadian regulators as it prepares for the rollout.
“I think chapter one of Coinbase in Canada was really about being a crypto exchange,” Richmond said.
“But now phase two of that is the Everything Exchange. How do we create that one place for Canadians to have their entire financial experience in one app that’s underpinned by this technology that makes things frictionless, seamless, and 24/7?”
The Canadian expansion follows Coinbase’s recent efforts to combine crypto trading with conventional financial products. During its System Update event in June, the company introduced its SEC-registered AI investment advisor, announced AI agents capable of executing trades on behalf of users, and unveiled plans for stock options, prediction markets, pre-IPO investment products and tokenized equities as part of its Everything Exchange strategy.
Tokenized stocks move closer to launch
Another product expected to reach customers soon is tokenized stocks.
Richmond told BNN Bloomberg that Coinbase intends to begin offering tokenized stocks to customers outside the United States later this month. Unlike synthetic products, Coinbase has previously said the assets will represent ownership backed one-for-one by the underlying shares, giving investors access to dividends and shareholder voting rights.
“I think this is something that’s really unique and novel and exciting,” Richmond said.
He added that Coinbase expects the blockchain-based assets to function much like conventional equities while making certain investments more accessible.
“It provides access to more individuals to certain types of stocks. It enhances collateral management, and so there’s a lot of positives there,” he said.
According to Richmond, companies do not necessarily need to issue blockchain-native shares themselves. Instead, brokers or dealers can tokenize existing shares while preserving the underlying ownership rights. He added that some companies are also interested in issuing tokenized versions of their own stock.
Coinbase first disclosed its tokenized stock initiative in June, saying the products would be backed one-to-one by real shares instead of functioning as derivatives or IOUs. The company has since positioned tokenized equities as one of the core products within its Everything Exchange platform.
Stablecoin rules remain a missing piece
Beyond tokenized stocks, Coinbase is also watching Canada’s regulatory approach to stablecoins before introducing more payment products.
The exchange primarily supports USD Coin (USDC), the U.S. dollar-backed stablecoin that maintains a one-to-one peg with the dollar. Richmond said Coinbase does not currently list a major Canadian dollar stablecoin because no existing token satisfies the listing standards required by Canadian regulators.
Richmond said proposed stablecoin legislation would allow digital Canadian dollars to be regulated as payment instruments rather than investments, which could improve user confidence and encourage wider adoption.
“That’s what the Stablecoin Act is really about: to ensure that we regulate stablecoins as payments, not as investments here in the country, so people can be comfortable and feel confident when they’re interacting in a Canadian dollar stablecoin,” Richmond said.
He added that regulated stablecoins could reduce the cost and time required for cross-border transfers because payments settle almost instantly instead of taking days through traditional banking infrastructure.
Supporting the industry’s growth, Richmond cited roughly $1.8 trillion in stablecoin transaction volume during June, saying the figure represented a 125% increase from the same month a year earlier.
He also acknowledged that regulation has struggled to keep pace with innovation but said recent government efforts on stablecoin legislation were encouraging.
Expansion continues across international markets
The Canadian plans come during a period of rapid international expansion for Coinbase.
Earlier this month, the company secured authorization under the European Union’s Markets in Crypto-Assets (MiCA) framework through Luxembourg, allowing it to offer regulated crypto services across all 27 EU member states, as well as Iceland, Liechtenstein and Norway. The approval also arrived as several exchanges without MiCA licenses reduced or suspended services across parts of Europe after the bloc’s transitional period expired.
Coinbase has also been adjusting its approach in Asia. As previously reported by crypto.news, the exchange simplified identity verification for mainland Chinese users by allowing registration with Chinese national identity cards and mainland residential addresses instead of requiring a Chinese passport and a Hong Kong address. While Coinbase did not describe the change as a return to the Chinese market, investors viewed the simplified onboarding process as a step that could make the platform more accessible to users in the region.
Back in Canada, Richmond said Coinbase expects competition with traditional brokerages and financial platforms to increase as blockchain-based financial services become more widely available.
“Rising tide lifts all boats,” Richmond said.
He argued that many Canadians are questioning why financial markets and banks continue operating within limited business hours while blockchain networks remain available around the clock.
“I think people are starting to realize the fact that banks close at 4 p.m., or the markets close at 4 p.m., or that wires can take days to settle, or that access for high-net-worth individuals to certain products are gated for just those high-net-worth individuals,” Richmond said.
Looking ahead, Richmond said his priority over the next year is to expand the range of products available to Canadian customers, allowing them to access more financial services through a single Coinbase platform instead of using separate providers.
