Universal Exchanges Are No Longer a Theory

[bonk]

Bitpanda isn’t alone in pursuing the universal exchange strategy. In 2025, Kraken rolled out access to more than 11,000 U.S.-listed stocks and ETFs, while Coinbase launched stock trading and rebranded its wallet as an “everything app” to support 24/7 markets.

What’s notable is that Bitpanda chose to offer real stocks rather than tokenized versions, signaling a pragmatic approach to regulation and user trust. As lines blur between crypto and traditional finance, the race is no longer about which asset class wins — it’s about which platform becomes the default gateway to all of them.

[chainsniff]

this is less “crypto vs tradfi” and more “who owns the user relationship” now