Coinbase Offers U.S. Retail Investors Direct IPO Access

Coinbase is extending its “Everything Exchange” strategy by allowing eligible U.S. retail customers to request IPO shares at the offer price before trading begins, starting with Oura. This move positions the platform as a primary market access point, not just a secondary crypto and stock trading venue. The shift could reshape how individual investors participate in new listings, moving Coinbase upstream from post-listing trades to pre-market distribution.

Coinbase Expands Beyond Crypto Trading

The new feature lets users request shares at the initial offering price, aligning Coinbase more closely with traditional underwriting processes. By integrating IPO access into its app, the company is layering stocks, crypto, stablecoins, and other financial products into a single account experience. This broadens its appeal beyond crypto-native users to mainstream investors seeking a consolidated financial hub.

As it adds more asset classes and financial services, the platform risks diluting its core identity while competing with established brokerages and fintechs. Still, early adoption of IPO access signals a long-term bet on becoming a one-stop financial super-app.

J.P. Morgan Explores Shared Credit Risk

J.P. Morgan Chase is reportedly exploring partnerships with outside funding sources, including private credit, to manage card applicants it would otherwise decline. The model would separate credit approval decisions from the bank’s balance sheet, allowing co-brand partners to extend offers to more customers without increasing J.P. Morgan’s risk exposure.

This approach could change how major banks balance underwriting standards with partner demand. While the bank has stated it has no current plans for a second-look program, the exploration reflects growing pressure to scale credit card businesses amid tightening lending criteria. The significance lies in the direction, not a finalized product.

SoFi Shifts Card Settlement to Stablecoins

SoFi is transitioning its $25 billion debit and credit card program to stablecoin settlement using SoFiUSD and Mastercard’s network. Customers and merchants will not need to change how they pay, as the blockchain-based shift occurs beneath the existing card experience.

Square Deepens Merchant Discovery Tools

Block’s Square now allows sellers to manage their Apple Maps presence, business information, and customer action links directly from the Square Dashboard. This extends Square’s efforts to make merchants discoverable across platforms like Apple, ChatGPT, Claude, and Alexa+.

Bank of America Bets on Apprenticeships

Bank of America plans to hire 1,000 apprentices over two years, adding to the more than 800 it already brings on annually. The bank is also committing $150 million to workforce development across consumer banking, technology, operations, and client-facing roles.