Coinbase Launches UK Stock Trading Platform Amid Sluggish Q2 Performance

Coinbase has expanded its services in the UK by launching a 24/5 stock trading platform, allowing users to buy and sell U.S. stocks with zero commission fees. This move is part of Coinbase's growth plan for USDC (USD Coin), a stablecoin that accounted for 53% of subscription and services income and approximately 24% of overall revenue in the second quarter.

The UK rollout aligns with the trend of users keeping more USDC within the platform, as seen in the second quarter. Average USDC holdings on Coinbase products hit an all-time high, along with paid subscriptions for Coinbase One. This growth plan may be put to the test, given the sluggish second-quarter performance.

Coinbase's selection of 4,000 U.S. stocks is not the most extensive compared to other platforms like Trading 212, which promotes access to over 5,600 U.S. stocks. However, Coinbase stands out by providing a USDC funding option within a crypto account.