Coinbase named a top three 2026 fintech pick at Clear Street

• Clear Street analyst Owen Lau named Coinbase (COIN) one of his top three fintech stock picks for 2026, citing its central role in blockchain-based finance.
• Lau maintains a Buy rating on COIN with a $415 price target, pointing to roughly 70% upside driven by stablecoin revenue, regulatory catalysts and new product lines.
• Coinbase’s growing focus on tokenization, payments and AI tools may help it outperform in what Lau calls a “transition year” for crypto equities.

Coinbase (COIN) is one of the top fintech ideas for 2026, according to a new outlook report by Clear Street analyst Owen Lau, who sees the crypto exchange as a central player in the shift toward blockchain-based financial infrastructure.

Lau, who already had a buy rating and a 12-month price target of $415 for COIN — ranked the crypto exchange alongside Nasdaq (NDAQ) and S&P Global (SPGI) as his top three fintech picks going into next year.

Amid a broad post-Christmas crypto selloff on Friday, COIN shares are lower by 2.2% to $234.50.

Lau said that Coinbase is “best positioned to benefit from blockchain adoption and regulatory clarity,” pointing to the company’s growing revenue from subscriptions, stablecoin activity and on-chain financial services. Coinbase’s diversification away from volatile spot trading and deeper involvement in areas like tokenization, payments and derivatives may help it weather crypto cycles better than in the past, he argued.

One key driver, according to Lau, is USDC, the stablecoin that is jointly operated by Circle and Coinbase. Circle shares roughly 50% of its revenue from USDC with Coinbase, yet Coinbase still trades at a discount to Circle based on expected earnings.

Lau also sees multiple other catalysts that could help re-rate Coinbase’s valuation in 2026, including U.S. legislation on crypto market structure and stablecoin frameworks. He also points to the company’s expansion into prediction markets, a potential “superapp,” and AI-based financial tools as new growth levers.

Describing 2026 as a “transition year” for crypto equities — when investors will shift focus from trading volumes to signs of real adoption — Lau believes that Coinbase is well positioned to benefit thanks to its strong balance sheet, international reach and diversified product pipeline.

2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.

This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.

• Major cryptocurrencies and crypto stocks slid in early U.S. trade Friday, with bitcoin slipping back below $87,000 and bitcoin miners down 5% or more across the board.
• Gold, silver and other metals surged, with geopolitical concerns adding to the debasement trade.

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