Coinbase is joining the tokenized stock race. According to CoinDesk and The Block, the exchange plans products backed 1:1 by U.S. equities, with ownership, redemption and automatic dividend payments.
The key point is not simply that stocks may move on-chain. The key point is that Coinbase is trying to separate real ownership from synthetic exposure.
If a user only receives stock price exposure, that is one product. If the user receives ownership, dividends and redemption rights, that is a different trust model.
What to watch next: where the product launches, what rights token holders receive and how clearly custody of the underlying shares is disclosed.
