Coinbase said Tuesday it will launch tokenized stocks backed one-for-one by shares of U.S. companies.
The exchange announced the product on its official X account, writing that "the first real, 1:1 backed tokenized stocks are coming" and that customers will be able to own, trade, hold and redeem the tokenized shares onchain while receiving dividends automatically.
In fine print, the post said tokenized stocks "will only be available in eligible jurisdictions outside the United States," with no date attached. No custody partner, token issuer, or list of supported equities was disclosed.
The move targets a market led by xStocks, which holds about $516 million in total value locked, almost entirely on Solana, according to DefiLlama..
The launch would make Coinbase the latest U.S.-based exchange to tokenize American equities while keeping the product away from American users. Robinhood, Gemini and Kraken have already opened tokenized-stock trading to customers outside the U.S. Coinbase's "not a derivative, not an IOU" framing also raises the bar in a category where most existing offerings give holders price exposure rather than a direct claim on shares.
