Coinbase Eyes SEC Green Light for Tokenized Stock Trading on Blockchain
Hey FinTech Fanatic!
Coinbase is actively seeking approval from the U.S. SEC to offer tokenized equities, which would allow users to trade blockchain-based versions of stocks, placing it in direct competition with Robinhood and Charles Schwab.
“It’s a huge priority,” said Paul Grewal, Coinbase’s Chief Legal Officer.
Tokenized equities would let investors hold digital tokens representing traditional shares, enabling 24/7 trading, lower fees, and faster settlement. But to legally offer them in the U.S., Coinbase needs a no-action letter or exemptive relief from the SEC, especially since the company is not a registered broker-dealer.
The concept is gaining traction: Kraken recently announced “xStocks” (tokenized U.S. equities) for select markets abroad. Coinbase’s entry could legitimize the space domestically, if the SEC plays ball.
The timing aligns with a pro-crypto pivot under the Trump administration, which has dropped previous lawsuits against Coinbase, Binance, and Kraken, and launched a task force to design new crypto rules. Bitcoin has soared amid the regulatory thaw.
“What’s been missing is confidence,” Grewal noted. “That’s what a no-action letter could finally bring to this space.”
If approved, tokenized stock trading could become Coinbase’s next billion-dollar business line and reshape how U.S. retail investors interact with equities.
Read more global FinTech industry updates below 👇 and I'll be back with more tomorrow!
Cheers,
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