Coinbase Rolls Out Cashback Program for Tokenized Stocks

Coinbase has introduced an incentive program for its tokenized stocks on the Base network, offering users a 5% cashback reward in USDC for qualifying swaps. The initiative, managed by 1inch Network and operated by Merkl, aims to boost trading engagement on Coinbase's platform.

The program provides up to $25 per wallet in cashback rewards, but it is not available in several major jurisdictions, including the US, Canada, the UK, and Australia.

As the broader crypto market displays mixed signals, this incentive could drive higher engagement and liquidity on Coinbase's platform. The dynamics surrounding order books and trading strategies may shift significantly due to such incentives.