Coinbase (COIN) said it plans to introduce 1:1 tokenized stocks backed by U.S. stocks, joining the growing competition between crypto companies and traditional financial companies to bring stocks onto blockchain networks.
“Introducing the first truly 1:1 backed tokenized stock,” the exchange said in a post on X on Tuesday, saying users can now own, trade, hold and redeem securities on-chain while automatically receiving dividends.
The announcement comes ahead of a product event scheduled for Tuesday at 3pm ET, where the company, best known as a cryptocurrency exchange, is expected to unveil a suite of services across trading and financial services.
“These are the first authentic, 1:1 backed tokenized stocks you can trust,” CEO Brian Armstrong said in a statement. “You own a real piece of the company on-chain.”
Armstrong said these products differ from existing tokenized equity offerings, which are often structured as derivatives or synthetic exposures rather than direct ownership.
“The other current solutions are some form of derivative or debt, not actual ownership,” he said. “Our tokenized shares offer all the benefits of true ownership (like increased dividends) with all the benefits of a tokenized asset.”
