Coinbase (COIN) said it plans to introduce tokenized stocks backed one-for-one by underlying U.S. stocks, joining growing competition between crypto companies and traditional financial firms to bring stocks to blockchain networks.
In a post on
The announcement comes ahead of a product event scheduled for 3 p.m. ET on Tuesday, in which the company, best known as a crypto exchange, is expected to unveil a range of offerings that include trading and financial services.
“For the first time, these are true 1:1 backed tokenized stocks you can trust,” CEO Brian Armstrong said in a statement. “You own a real piece of the company onchain.”
Armstrong said the products differ from many existing tokenized equity offerings, which are often structured as derivatives or synthetic exposures rather than direct ownership stakes.
“Other current solutions are a form of derivative or IOU – not real ownership,” he said. “Our tokenized shares will provide all the benefits of real ownership (e.g. an upward dividend), with all the benefits of tokenized assets.”