Coinbase, a US-based crypto exchange said on June 16 it planned to launch tokenized stocks backed 1:1 by underlying US equities for users in eligible markets outside the US.

The products would allow on-chain ownership, trading, holding, redemption, and dividend pass-through.

Coinbase’s pitch centers on ownership. Fully backed tokenized stocks generally represent shares held 1:1 by a regulated custodian and can include redemption rights and dividend pass-through.

By contrast, synthetic products track stock prices without granting ownership rights. The company is entering an increasingly competitive market.

Kraken’s xStocks launched in 2026 for non-US users, and Robinhood said its European Union stock tokens are derivative contracts that give price exposure but not rights to the underlying shares.

The overseas focus reflects regulation, as tokenized shares remain securities under US law.

Tokenized public equities also remain a small segment of the broader real-world asset market, with less than US$1 billion in value.

🔗 Source: CoinDesk

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