Coinbase is looking for the approval of the United States Stock Exchange and Securities Commission (SEC) to launch the tokenized shares trade, a movement that could expand its business to the territory of traditional brokerage companies.
Crypto’s legal director, Paul Grewal, told Reuters that Coinbase aims to offer digital versions of shares, known as tokenized actions, which would be negotiated in blockchain networks instead of conventional exchanges. The model could allow 24 -hour trade, reduce transaction costs and eliminate compensation intermediaries.
However, the way ahead depends on how the SEC responds. Coinbase is looking to ensure a letter without action or an exemption from the application, which would provide regulatory coverage to offer these products in the United States.
The thrust marks a strategic change for Coinbase, which already has a stockbroker license through an inactive affiliate. If the initiative is successful, you could place the company along with retail runners such as Robinhood (Hood) and Charles Schwab (Schw), which serve a similar investor base, as well as Crypto Exchange Kraken.
Tokenized actions are not yet legal to trade in the US., But platforms like Kraken are testing such offers abroad. The coinbase time is aligned with a more friendly regulatory climate under the new president of the SEC, Paul Atkins; The agency has eliminated several demands related to crypto and established a working group dedicated to digital assets.
Even so, Grewal refused to say if Coinbase had formally submitted his application. The trust that comes from the clear guide of the SEC has lacked, he said.
“Exciting? Yes. Important? Absolutely. But last -minute news? Not exactly. We have been saying since the beginning of this year that the SEC should allow markets to unlock tokenized values,” Grewal published on social networks.
“Tokenized debt, capital and investment funds have an opportunity for the personalized regulation of values that are offered and negotiated through digitally native methods.”
