coinbase (NASDAQ:COIN) announced “real” tokenized shares as part of a “System Update” that included a series of announcements.
Tokenization, or digital securities, can reference a variety of real-world assets as specified by the Securities and Exchange Commission (SEC). Some platforms “wrap” shares and identify them as tokenized. While digital securities are the future, their full adoption will take some time.
In a post Open XCoinbase announced:
“The first true, 1:1-backed tokenized stocks are coming. → Own true tokenized shares of US companies → Trade, hold and redeem – all on-chain → Receive dividends automatically No derivatives, no IOUs. Welcome to the future of stocks.”
The System Update event will take place today at 3pm ET.
Coinbase is tracking the broader market, currently trading at $168 per share today, well below its 52-week high of $440 per share. The company is often thought to be tied to the price of Bitcoin. At the same time, its last quarterly earnings report disappointed investors. With most of the oxygen in the trading room consumed by SpaceX’s IPO, a solid update today could help spark investor interest.
