Coinbase Pushes for Ownership-Based Tokenized Stocks Amid Expansion

Coinbase CEO Brian Armstrong has outlined his vision for tokenized stocks on X, where investors would have ownership rights rather than simply tracking stock prices. Under this approach, underlying shares would be held in custody, while tokens could include redemption and dividend features. This model is being implemented as Coinbase expands blockchain-based access to US equities for customers outside the US.

Armstrong emphasized that tokenized stocks should be 'real fully-backed securities' with no synthetics or debt instruments. Tokens would be redeemable for the underlying shares, with dividends integrated and voting rights coming soon. This approach aims to provide global investors and institutions with access to US equities.

Coinbase has already launched Base-native tokens linked to Apple (no ticker mentioned), Nvidia (NVDA), Meta (META), and Alphabet (GOOGL) in its expansion of blockchain-based access to US equities for customers outside the US. Armstrong's vision is to set a standard for tokenized stocks that prioritizes real ownership rights.