Coinbase (COIN) said it plans to introduce tokenized shares backed one-to-one by underlying U.S. stocks, joining the growing competition among crypto firms and traditional financial firms to bring shares onto blockchain networks.
In a post on X on Tuesday, the exchange said “the first real, 1:1-backed tokenized shares are coming,” allowing users to own, trade, hold and redeem the securities on-chain while automatically receiving dividends.
The announcement comes ahead of a product event scheduled for 3pm ET on Tuesday, where the company, best known as a crypto exchange, is expected to unveil a range of offerings spanning trading and financial services.
“For the first time, these are true 1:1 backed tokenized shares you can trust,” CEO Brian Armstrong said in a statement. “You own an actual part of the company on the chain.”
Armstrong said the products differ from many existing tokenized equity offerings, which are often structured as derivatives or synthetic exposures rather than direct ownership interests.
“Other current solutions are some form of derivative or IOU – not real ownership,” he said. “Our tokenized shares will provide all the benefits of true ownership (eg dividend upside), with all the benefits of tokenized assets.”
