Coinbase, the leading cryptocurrency exchange in the United States, has appointed George Osborne, a former chancellor of the exchequer in the United Kingdom, to lead its internal advisory council.
Osborne has been advising Coinbase since 2024 and has expressed concern over the UK’s insufficient regulations on digital assets. This new role aims to bolster Coinbase’s influence among international governments.
Osborne revealed the news of his appointment on Thursday, highlighting the opportunity it presents for further learning:
“Serving on Coinbase’s advisory council for over two years, I have seen the blockchain revolution and the potential to spread ownership to many left behind by the system. Chairing it is an amazing opportunity to learn more.” Translation: “Being part of Coinbase’s advisory council for more than two years has allowed me to witness the revolution brought by blockchain technology and how it can empower those traditionally overlooked by systems. Leading this council is a fantastic chance to deepen my understanding.”
In August, Osborne wrote an op-ed for the Financial Times, critiquing the UK for trailing behind in crypto regulations and development efforts. He notably pointed out concerns regarding the absence of development on British pound-pegged stablecoins, warning that the pound could gradually lose its relevance as US stablecoins dominate the market, solidifying the dollar’s position as the global reserve currency.
Osborne’s appointment comes at a pivotal time for Coinbase, which has recently expanded its operations by acquiring businesses like the crypto derivatives platform Deribit and venturing into traditional finance products.
Coinbase Aiming to Be a Full-Service Financial Platform
On Wednesday, Coinbase announced its plans to integrate tokenized stock trading and prediction markets, aspiring to evolve into an all-encompassing financial application.
By tokenizing stocks and ETFs, Coinbase aims to enable round-the-clock trading while allowing these conventional assets to serve as collateral for crypto transactions.
The company has enlisted Kalshi to provide services for its forthcoming prediction market platform, where investors can engage in trading event contracts. Furthermore, Coinbase plans to introduce perpetual futures contracts for crypto and stocks by 2026, offering users leverage of up to 50 times.
Related Article: Coinbase Expands in Poland with Blik Mobile Payments Integration.
