Coinbase said it plans to launch tokenized U.S. stocks backed one-to-one by real shares, a move that could accelerate the shift of equity markets onto blockchain networks.
Coinbase unveils tokenized stock plan
The exchange said the onchain tokens will represent actual shares of American companies, not derivatives or IOUs. Users will be able to trade, hold, and receive dividends directly through blockchain systems, with payouts distributed automatically to token holders.
Chief Executive Officer Brian Armstrong described the offering as the first true one-to-one backed model of its kind. Initial tokens are expected to include companies such as SpaceX, Nvidia, and Google. The service will initially be offered only in jurisdictions outside the United States where regulations permit.
Rollout and regulatory backdrop
Coinbase provided limited details on timing but said more information would follow soon. The launch comes as U.S. regulators continue shaping rules for tokenized equities, with the Securities and Exchange Commission reviewing how blockchain-based securities should be issued and traded.
In a notable development, the SEC recently proposed changes to Regulation NMS, including adjustments to the order protection rule. Analysts say the move could ease restrictions that have limited blockchain-based trading systems from competing with traditional exchanges.
Competition builds across crypto platforms
Rival platforms are already moving in the same direction. Robinhood has been developing tokenized stock offerings through Arbitrum, while several international exchanges and decentralized venues are testing similar products tied to public equities.
Earlier this month, Backpack, a platform launched by former FTX employees, introduced a hybrid system combining traditional stock trading with tokenized instruments. The launch added momentum to a growing industry push to bring equities fully onchain.
Key difference in Coinbase model
In some regions, traders already have access to stock-linked crypto products tied to companies like Tesla, Apple, and Nvidia. However, many of these are synthetic instruments that track price performance rather than being backed by actual shares.
Coinbase’s model stands apart by committing to direct ownership linkage, where each token corresponds to a real share held in reserve.
Rising demand and market growth
Recent trading activity highlights demand for tokenized equities. Backpack’s tokenized SpaceX product, trading under the ticker SPCX, generated about $80.8 million in volume within 24 hours on the Solana network, coinciding with heightened interest around the company.
The broader tokenized real-world asset sector has expanded rapidly, reaching $31.4 billion in value as of May 2026, up from $11.2 billion less than a year earlier. Industry forecasts suggest the market could grow to $2.1 trillion in 2026 and potentially $7.79 trillion by 2030.
What traders should watch next
As the market develops, several factors will shape adoption:
- regulatory decisions in the United States
- whether tokens provide true one-to-one backing or synthetic exposure
- the choice of blockchain infrastructure and custody models
Traditional financial institutions are also entering the space. The Depository Trust & Clearing Corporation is planning a pilot program for tokenized securities settlement in July 2026, involving major market participants.
Together, these developments suggest that tokenized equities are moving closer to mainstream adoption, with Coinbase positioning itself at the center of that transition.
Curious about blockchain-based stocks? Learn how tokenized shares work in our guide on tokenized equities today.
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