Coinbase Launches Tokenized US Stocks on Base

Base, Coinbase’s Ethereum layer-2 network, initially used onchain social products, creator tokens and the Base App to attract mainstream users. After that strategy struggled to gain traction, the network shifted its emphasis toward trading, stablecoin payments, AI agents and tokenized assets. The pivot matters because putting regulated equities onchain could extend market access beyond conventional trading hours and make stock-linked assets usable across decentralized finance, positioning Base as financial infrastructure rather than primarily a social platform.

On July 21, 2026, Base creator Jesse Pollak said Coinbase and Base were close to launching tokenized equities backed one-for-one by real-world shares, citing stronger credibility, capital efficiency and potential institutional adoption. Coinbase first detailed the product on June 16, saying users would be able to trade, hold and redeem shares onchain and receive dividends automatically, without derivatives or IOUs. The initial rollout is slated for non-U.S. customers in August 2026, while supported stocks, fees and the precise legal structure have yet to be disclosed.

Coinbase is bringing traditional securities onto the blockchain, with plans to offer tokenized U.S. stocks backed 1:1 by underlying physical assets. Investors would hold the corresponding equity directly rather than merely gaining exposure through price-linked derivatives. The move underscores how crypto trading platforms are expanding into stock trading and asset tokenization.

Coinbase said it will launch its onchain stock service in eligible jurisdictions outside the United States, allowing users to hold and trade shares via blockchain and receive dividends automatically. CEO Brian Armstrong stressed that the products represent direct equity ownership. As of July 20, 2026, Coinbase had not disclosed an exact launch date, the initial list of stocks or its fee structure.

Coinbase and Bybit, both major global cryptocurrency exchanges, are discussing the tokenization of traditional assets such as U.S. stocks, alongside integrated custody and global distribution services. If the collaboration proceeds, it could use blockchain technology to streamline asset issuance, trading and management while broadening investors' cross-market access to U.S. equities.

As of July 20, 2026, the companies were exploring the joint development of infrastructure for U.S. stock tokenization, asset custody and global distribution, but had not formally announced an agreement. Existing reports did not disclose any investment amount, planned launch date, initial list of tokenized stocks, or the countries and regions the services would cover.