Coinbase Launches Tokenized Stock for Alphabet

Alphabet's tokenized stock, GOOGLC, is a digital certificate that provides exposure to shares of Alphabet through Coinbase Onchain SPV Ltd in the Abu Dhabi Global Market (ADGM). Each token represents a 1:1 beneficial interest in shares held in a segregated custody account with a regulated broker-dealer and custodian.

The applicable share-to-token ratio may change over time to reflect reinvested distributions, fees, taxes, corporate actions, and other adjustments. Dividends and other distributions received on the underlying shares are generally reinvested, after applicable taxes, fees, and expenses, with the resulting economic benefit reflected through an adjustment to the share-to-token ratio.

Authorized Participants create tokens by delivering the corresponding underlying shares or subscription value. Eligible holders who satisfy applicable vesting, identity-verification, sanctions, and compliance requirements may redeem tokens for the underlying shares or through another supported settlement method.