Everything under one login

Round-the-clock trading is one part of the plans exchanges have for traditional assets. Coinbase and Binance want customers to trade crypto, stocks and other products through one account, a model both have described as an “everything exchange” or financial super app.

Coinbase is preparing to offer U.K. customers equities and derivatives alongside crypto after securing investment-services authorization from the Financial Conduct Authority under rules based on the Markets in Financial Instruments Directive, or MiFID.

The authorization allows Coinbase to offer traditional shares to retail customers and crypto, equity and commodity perps to eligible institutional and advanced traders, the company…