Coinbase launches tokenized US stocks

Coinbase announced it will launch tokenized U.S. stocks, offering investors the ability to trade, hold, and redeem actual shares on the blockchain. These tokenized stocks will be backed 1:1 by the underlying assets, ensuring direct ownership without derivatives or IOUs. Holders will also automatically receive dividends, further integrating traditional equity ownership with decentralized finance. This move by Coinbase, a major cryptocurrency exchange, aims to bridge the gap between traditional stock markets and the crypto ecosystem, potentially attracting new users to both.