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.