Cryptocurrency exchange Coinbase Global (NASDAQ: $COIN) has launched a new artificial intelligence (A.I.) advisor to help its clients execute trades on its platform.
Management said the new A.I. advisor is part of its efforts to build an “everything exchange” for its user base
The new product, called “Coinbase Advisor,” is described as one of the first regulatory-compliant A.I.-powered investment advisory tools available in the U.S. More From Cryptoprowl: Initially, the A.I. advisor is only available to “Coinbase One” premium subscribers in the U.S. The A.I. product provides portfolio recommendations, tax-loss harvesting guidance, and market analysis to help people execute smarter trades, says Coinbase Global in a statement.
Artificial intelligence advisors that can help investors make informed decisions are growing in popularity, with some analysts predicting that they will eventually make trades independent of people. Coinbase Global CEO Brian Armstrong has said that his aim is to turn the cryptocurrency exchange into a full-service financial platform that combines trading, payments, lending, and asset management into one platform. Competition is growing as exchanges move to become a single destination for trading stocks, digital assets, and tokenized financial products from a single user account.