Coinbase Expands Beyond Crypto with Tokenized Stocks and Options

Coinbase is expanding its services beyond cryptocurrency trading with several new products. The company plans to launch tokenized stock trading in August for customers outside the United States. Tokenized stocks will be backed 1:1 by the underlying asset and offer true equity ownership, including dividend payouts and full shareholder rights.

Coinbase users will also gain access to programmatic utility of the on-chain economy, allowing them to trade stock markets outside normal hours. They can lend tokenized stocks for yield, use them as collateral for loans, or transfer them to other users. The launch marks a step towards wider access to U.S. markets, according to Coinbase's CEO Brian Armstrong.

Coinbase is also rolling out options trading for crypto and stocks on its exchange. Options give holders the right to sell at a strike price, unlike futures contracts. The company will offer real-world asset perpetual futures tied to equity themes, including AI, China, defense, and tech. Pre-IPO perpetual futures have drawn strong demand in recent months, with volumes across leading exchanges rising 1,100% since early May to about $12 billion.