Coinbase plans to introduce tokenized versions of US company stocks, joining a growing race among crypto exchanges and financial firms to move equities onto blockchain networks.
The company said the products will be backed one for one by underlying US shares, allowing users to own, trade, hold, and redeem the securities onchain while automatically receiving dividends.
“The first real, 1:1 backed tokenized stocks are coming,” Coinbase said in a post on X. CEO Brian Armstrong said the products are designed to give users actual ownership onchain rather than synthetic exposure, derivatives, or IOUs.
The products will initially be available only in eligible jurisdictions outside the US. Coinbase did not provide a launch date, saying only that the offering is coming soon.
The announcement comes ahead of a Coinbase product event scheduled for Tuesday afternoon, where the company is expected to unveil a broader slate of trading and financial services products.
