Coinbase and Bybit Explore Tokenized US Stocks and Custody Services

Crypto exchange giants Coinbase and Bybit are engaging in high-level talks to explore the tokenization of US stocks and related custody services. According to sources familiar with the matter, the discussions center on blockchain-based versions of stock assets, which could be issued, held, and distributed digitally.

The talks aim to expand access to these assets globally, leveraging Bybit's vast user base in Asia and beyond. Coinbase may provide support for custody and core infrastructure, while Bybit could help with market reach and distribution.

The discussions are separate from any potential Bybit plan to enter the US market, which is reportedly still in the works through a new entity led by former co-CEO Helen Liu. This move would involve creating a local partner to handle licensing and compliance matters.