Coinbase to join tokenized stock race with onchain
Coinbase to join tokenized stock race with onchain shares, dividend Coinbase plans to introduce tokenized stocks backed one-for-one by underlying U.S. equities, allowing users to own, trade, hold and redeem equities on a blockchain while receiving dividends automatically.
CEO Brian Armstrong said the new products differ from many existing tokenized stock offerings by providing direct equity ownership rather than derivative or synthetic exposure.
The tokenized stocks, part of a broader push across Wall Street and crypto firms to move traditional securities onchain, will debut in eligible jurisdictions outside the U.S. at a date yet to be announced.
Coinbase (COIN) said it plans to introduce tokenized stocks backed one-for-one by underlying U.S. equities, joining the growing competition among crypto firms and traditional financial companies to bring stocks onto blockchain networks.
In a post on X on Tuesday, the exchange said "the first real, 1:1 backed tokenized stocks are coming," allowing users to own, trade, hold and redeem the securities onchain while automatically receiving dividends.
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