Home » Coinbase to Launch Tokenized Stocks For Non-US Customers

Coinbase to Launch Tokenized Stocks For Non-US Customers

by Anna Avery
0 comments




America’s largest crypto exchange, Coinbase, is going international, offering tokenized stocks to global customers. 

Coinbase plans to launch tokenized stock trading in August for customers outside the US, according to an announcement on Tuesday.

Tokenized stocks will be backed 1:1 by the underlying asset and will represent “true equity ownership,” it stated. This includes dividend payouts and complete shareholder rights, alongside the “programmatic utility of the onchain economy.”

Pre-IPO Perps Surging

The product merges traditional equities with crypto flexibility, as traders can access stock markets out of hours. Tokenized stocks can also be lent out for yields, posted as loan collateral, or transferred to other users, it stated.

“Our product will give all the benefits of true ownership, with all the benefits of tokenized assets. This is a great step towards unlocking global access to US markets,” said Coinbase CEO Brian Armstrong.

Coinbase also announced that it will be rolling out options trading for crypto and stocks, directly on the exchange. Options are derivative contracts that give the holder the “option” of selling at a strike price, rather than futures, which are fixed.

The company is also introducing real-world asset (RWA) perpetual futures, with targeted exposure to equity indices like AI, China, defense, and tech.

Its recently launched pre-IPO perps also offer early exposure to high-interest companies before they hit public exchanges, starting with SpaceX, but soon to include Anthropic and OpenAI.

Pre-IPO perpetual futures have exploded in popularity over the past couple of months, leading up to the SpaceX IPO last week. According to CryptoQuant, volumes across leading exchanges have surged 1,100% since the beginning of May to around $12 billion, with Binance dominating market share.

You may also like:

Tokenized stocks make up just 5% of the total tokenized RWA onchain value, according to RWA.xyz, with around $1.5 billion. Ondo is currently the largest platform for tokenized stocks by market share, with 59%, followed by xStocks with 32%.

Coinbase Boss Pushes Back at Banks

Brian Armstrong said on Fox News on Tuesday that big banks are trying to undermine the President’s crypto agenda.

“They’re [banks] are trying to protect their profit margins, taking money out of the pockets of hardworking Americans,”

Banks are pushing back against crypto legislation over stablecoin yields, which far exceed most interest rates high street banks offer. They fear there will be a deposit flight as savers seek earnings on their capital rather than leaving it devaluing in a bank.

SPECIAL OFFER (Exclusive)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!





Source link

You may also like

Leave a Comment

About Us

Advertisement

Latest Articles

© 2024 Technewsupdate. All rights reserved.