Coinbase, one of the world’s leading cryptocurrency exchanges, is actively pursuing a “green light” from the U.S. Securities and Exchange Commission (SEC) to offer “tokenized equities” to its customer base, according to comments made by the company’s chief legal officer in an interview with Reuters.
Should the SEC grant approval, this strategic move would enable Coinbase to facilitate stock trading directly on blockchain technology. This development has the potential to significantly expand Coinbase’s business offerings, placing it in direct competition with established retail brokerages such as Robinhood and Charles Schwab.
Paul Grewal, Coinbase’s chief legal officer, emphasized the importance of this initiative, stating that the concept of tokenized equities is a “huge priority” for the company.
This push highlights Coinbase’s ambition to bridge the gap between traditional finance and the burgeoning world of decentralized technologies, potentially opening up a entirely new business segment for the crypto giant.
The foray into tokenized equities could mark a pivotal moment for Coinbase and the broader financial industry, as it seeks to leverage blockchain’s efficiencies for traditional asset classes. The outcome of Coinbase’s application with the SEC will be closely watched by investors and industry participants alike.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/coinbase-seeks-sec-approval-for-tokenized-equities-eyeing-expansion-into-stock-trading/