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How Investors May Respond To Coinbase Stock Stablecoin Payments Push

Simply Wall St · 1d ago
  • Thunes and Coinbase Global announced a past collaboration on 19 October 2026 that links Coinbase stablecoin services with the Thunes fiat payout network to support real time cross border transfers and remittances for wallets and bank accounts worldwide.
  • Marqeta revealed a separate partnership with Coinbase that uses Coinbase stablecoin infrastructure and the Base blockchain so enterprises can issue cards funded by stablecoin balances for everyday global spending.
  • We will now look at how Coinbase's push into real world stablecoin payments could reshape its investment narrative and risk profile.
Capture where Coinbase Global fits in the broader shift to real world crypto payments by scanning a hand picked set of 18 cryptocurrency and blockchain stocks that are building similar rails across public markets.

Coinbase Global Investment Narrative Recap

To own Coinbase Global, you need to believe that crypto activity, and especially stablecoin usage, justifies a large, global infrastructure provider rather than just a trading venue. The key near term swing factor is still transaction revenue sensitivity to crypto volumes and volatility. The Thunes and Marqeta tie ups deepen the payments story, but do not immediately change that exposure.

The biggest current risk is that spot volumes stay weak while compliance, cybersecurity and regulatory costs keep rising, limiting progress toward consistent profitability. Payments partnerships may help diversify revenue longer term, yet cybersecurity incidents, fines such as the Irish safeguarding case, and fee pressure from rivals remain important watchpoints for the business.

The Thunes collaboration looks most relevant for shaping catalysts. It links Coinbase stablecoin services with local fiat payout rails, potentially broadening use cases from trading into remittances, gig worker payouts and supplier payments. That supports the idea that USDC, Base and Coinbase’s APIs could mature into a general purpose transaction and payments stack rather than just trading plumbing.

For investors tracking catalysts, the key question is execution speed. Integrating Thunes’ Direct Global Network, handling real time conversion and last mile delivery, and managing compliance in hard to reach markets all add operational complexity and regulatory risk. Progress here, or visible setbacks, could influence how much confidence the market places in Coinbase’s effort to reduce dependence on trading fees.

Where Coinbase Global’s Stablecoin Push Meets The Numbers

Coinbase Global's story around real world stablecoin payments now sits alongside analyst expectations that revenues could reach US$8.3b and earnings US$1.6b by 2029. Consensus implies revenue growth of 11.3% per year and an earnings swing of roughly US$2.6b from a loss of US$987.8m today, all anchored to 2029 forecasts that investors can compare with their own views on how far the Thunes style partnerships might broaden the business beyond trading.

Uncover why Coinbase Global's fair value indicates a 27% potential upside to its current price, which could narrow quickly.

NasdaqGS:COIN 1-Year Stock Price Chart
NasdaqGS:COIN 1-Year Stock Price Chart

Exploring Other Perspectives

One alternative view focuses on fee pressure. Bearish analysts worry that, even with moves like the Thunes and Marqeta deals, competition could squeeze Coinbase Global’s take rates. Before this news, the lowest forecasts were for revenue of about US$7.1b and earnings of US$637.8m by 2029, which presents a far more cautious story. Those lower estimates show how far opinions can spread. It therefore makes sense to compare several narratives and decide which assumptions you trust most.

Explore 8 other Coinbase Global fair value estimates, including one that suggests as much as 89% downside from the current price!

Form Your Own Verdict

Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so consider forming your own view.

Looking For More Investment Ideas Beyond Coinbase Global?

Once you have a view on Coinbase Global, it helps to compare it with other opportunities that have different strengths, risk levels, and income profiles. The Simply Wall St Screener can surface ready made shortlists so you can quickly spot what fits your own approach.