Coinbase to Offer Fully Backed Tokenized U.S. Stocks Starting Tuesday
Coinbase announced the launch of 1:1 tokenized U.S. stocks that holders can trade, redeem, and collect dividends from on-chain. The move comes as Robinhood and Kraken pursue similar on-chain equity initiatives.
ambcrypto.comU.S. stocks on-chain. Holders will be able to trade, redeem, and collect dividends automatically. The product involves no derivatives or IOUs.
U.S. companies. Trade, hold, and redeem, all on-chain. Automatically receive dividends. No derivatives, no IOUs," the company posted on X. The announcement distinguishes Coinbase's offering from other tokenized stock products.
U.S. investors stock performance exposure through derivatives without holding the underlying shares. Coinbase is promising the opposite, actual shares in reserve backing every token 1:1.
More details are expected later Tuesday afternoon. S. stocks and ETFs. Kraken is building its own on-chain equity access.
Backpack, founded by former FTX employees, launched a blended traditional product.
