The cryptocurrency exchange giant Coinbase used its 2025 State of Crypto summit in New York City to announce a raft of new products and partnerships. Notably, this indicates the company is planning to be more than a place to trade cryptocurrencies. Meanwhile, analysts upscaled the price target for COIN stock.
Coinbase has introduced a new payment protocol which will be adopted by Shopify, a native payments system powered by USDC and a business treasury management platform. Moreover, it presented Coinbase One Card, a Bitcoin-rewarding spending card. These payment services will be settled on Base, the Layer 2 blockchain created by Coinbase.
Cantor Fitzgerald analysts think this step might boost the revenue and demands of USDC. On the trading front, it is considering introducing decentralized exchanges (DEXs) such as Aerodrome which is built on Base to its main application.
This would enable users to gain access to a broad variety of on-chain assets through one platform. The firm is likewise venturing into crypto derivatives. It also announced it would introduce CFTC-regulated U.S. perpetual futures and introduce Deribit, a popular crypto derivatives exchange, into Coinbase Prime.
This comes after Coinbase recently agreed to acquire Deribit in a $2.9 billion acquisition. The change in Coinbase was characterized by one analyst as the firm is no longer just a cyclical crypto exchange, but is becoming a mission-critical layer of infrastructure.
Moreover, second-quarter trading has been weaker than anticipated as it may range between $230 – $250 billion against $357 billion that was initially projected.
With this, they lowered their 2025 revenue expectations by approximately 4% but maintained an “overweight” rating on the stock and increased the 12-month price target to $292 a share from $253.
Coinbase shares are changing hands at approximately $240.50, which is a decrease of approximately 6% so far in 2022.
Also Read: Coinbase Signs Major Deals with American Express and Shopify
