Coinbase has launched 1:1-backed tokenized shares of SpaceX, Nvidia, Google, Strategy, and Bitmine, entering the market days after rival exchanges abandoned SpaceX-related token offerings. According to Coinbase, the new product allows users to buy, hold, trade, and redeem tokenized equity on-chain while receiving dividends linked to the underlying shares. The exchange said that the assets represent actual ownership interests rather than derivatives or IOUs, describing them as 'the first real, 1:1 backed tokenized stocks' that allow users to own actual tokenized shares of U.S. companies. As per The Block, Coinbase announced the launch in a brief social media post, emphasizing that users can trade, hold, and redeem all on-chain with automatically received dividends.
The launch follows failed SpaceX token campaigns by Binance and Bybit after xStocks could not deliver SPCX shares. As reported by Coinbase, the company positioned its own offering as a direct alternative, stating users would have access to tokenized equity tied to major U.S. companies through infrastructure designed to support ownership rights and dividend payments. CEO Brian Armstrong emphasized that existing tokenized stock products available in the market are generally structured as derivatives or IOUs rather than direct ownership interests. The move comes as American regulators and lawmakers are discussing how tokenized stock trading can function, with rival firms like Robinhood and Kraken also aiming to offer users on-chain versions of U.S. equities.
The stock launch forms part of Coinbase's effort to expand beyond cryptocurrency trading and build what the company has described as an 'Everything Exchange'. According to Coinbase, the company outlined plans to integrate trading, lending, payments, derivatives, artificial intelligence tools, commodities, and tokenized securities within a single account structure. The company said users would eventually be able to access multiple financial products from one platform operating around the clock, with additional announcements expected during a presentation scheduled for 3 p.m. Eastern Time. This expansion comes as global players like Binance, OKX, and popular DEXes like Hyperliquid and Lighter are exploring ways to offer users on-chain investments tied to U.S. equities performance.
Recent moves suggest Coinbase is extending into traditional financial markets, with the company announcing on June 13 that its derivatives platform has begun offering 24/7 trading for U.S.-regulated gold and silver futures. This allows eligible traders to access precious metals markets during weekends and holidays. Earlier this month, Backpack, the crypto exchange founded by former FTX employees, launched Backpack Securities, a platform designed to blend traditional and tokenized stock trading. Across the crypto sector, exchanges and infrastructure providers have accelerated efforts to bring traditional financial assets on-chain, with growing interest in tokenized stocks following increasing demand for round-the-clock market access.
Despite the recent launch, Coinbase shares were largely unchanged, with COIN trading near $170 according to Yahoo Finance data. However, the stock remained up more than 8% over the previous five trading sessions, indicating positive investor sentiment around the company's expansion strategy. The exchange did not disclose launch volumes or provide details on how many shares of each company would initially be available. The potential for 24/7 market access represents one of the most alluring aspects of tokenized trading, allowing investors to trade outside traditional stock market hours.
