Coinbase Takes On Robinhood with 1:1 Stock Token Launch

Coinbase is launching a new token that will be pegged to real-world stocks on a 1:1 basis, directly challenging pioneers like Robinhood.

This move marks a shift for Coinbase, which is no longer confined to cryptocurrency trading and seeks to leverage its deep compliance expertise to enter the tokenized securities market.

Jesse Pollak, a core developer of Base, confirmed that the exchange and its Layer 2 network are preparing to launch this new token, which will offer advantages in terms of credibility, capital efficiency, and institutional adoption compared to existing products.

Pollack acknowledged that Base lags behind Robinhood Chain in the stock-token space but believes Coinbase can quickly close this gap due to its long-standing reputation as a licensed exchange and its regulatory infrastructure.