Coinbase Launches Tokenized Stocks for Top US Companies

Coinbase is launching tokenized stocks that offer direct ownership in top US companies. The move marks the exchange's continued push to become an 'Everything Exchange', offering more than just crypto trading.

The tokenized shares will be backed one-to-one by the underlying assets, allowing users to trade, hold and redeem them on-chain and receive dividends automatically.

This is a significant step in the tokenization wave, which has seen crypto firms offer traditional assets on-chain. However, Coinbase CEO Brian Armstrong notes that current solutions are often derivatives or IOUs rather than real ownership.

The launch marks a milestone for Coinbase's 'Everything Exchange' vision, with the exchange also offering prediction markets and more products in the pipeline.