The planned product would expand Coinbase's push beyond crypto-native trading and could broaden offshore access to U.S. equities while raising regulatory and market-structure questions.
Coinbase said it will roll out 1:1 backed tokenized stocks tied to U.S. companies for users in non-U.S. jurisdictions, marking a shift from equity-linked crypto derivatives toward tokenized spot-style equity exposure. The move could widen access to U.S. stocks in offshore markets and intensify competition with traditional trading venues, while also underscoring the regulatory complexity around bringing tokenized securities to market.