Coinbase (COIN) has announced plans to list tokenized shares backed one-for-one by underlying U.S. stocks, joining the growing competition between crypto companies and traditional financial firms to list shares on blockchain networks.
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The announcement comes ahead of a product event scheduled for Tuesday at 3 p.m. ET, during which the company, better known as a crypto exchange, is expected to unveil a series of offerings spanning trading and financial services.
“For the first time, these are real 1:1-backed tokenized stocks that you can trust,” CEO Brian Armstrong said in a statement. “You own a real part of the business on the chain.”
Armstrong said the products differ from many existing tokenized stock offerings, which are often structured as derivatives or synthetic exposures rather than direct holdings.
“The other current solutions are a form of derivative or IOU, not real ownership,” he said. “Our tokenized shares will provide all the benefits of true ownership (e.g., rising dividends), with all the benefits of tokenized assets.”
