Coinbase (COIN) said it plans to introduce tokenized stocks backed one-for-one by underlying US stocks, joining the growing competition between crypto firms and traditional financial companies to bring stocks to blockchain networks.
In a post on
The announcement comes ahead of a product event scheduled for 3 p.m. ET on Tuesday, at which the company, best known as a crypto exchange, is expected to unveil a series of offerings spanning trading and financial services.
“For the first time, these are real 1:1 backed tokenized stocks you can trust,” CEO Brian Armstrong said in a statement. “You own a real piece of the company in the chain.”
Armstrong said the products differ from many existing tokenized equity offerings, which are often structured as derivatives or synthetic exposures rather than direct ownership interests.
“Other current solutions are some type of derivative or note, not actual ownership,” he said. “Our tokenized shares will provide all the benefits of real ownership (e.g. increased dividends), with all the benefits of tokenized assets.”
