Coinbase introduced tokenized stocks as part of a broad System Update unveiled today. The tokenized stocks will be backed 1:1 by the underlying asset and represent true equity ownership, including dividend payouts and full shareholder rights, while adding onchain utility, according to the exchange. The tokens will let holders trade U.S.-based stocks 24/7, lend shares to earn yield, use them as collateral for loans, or gift them directly to another person. Coinbase framed the move as extending the benefits of crypto to traditional stock trading.

The launch sits alongside a wider equities expansion. U.S. users can now transfer existing stock portfolios from other platforms to Coinbase and trade nearly every major U.S. stock, index, and ETF, with equities access added to Coinbase Advanced. Those benefits include zero commission fees, TradingView charting, fractional shares, and up to 3.5% rewards on trade-ready USDC balances. Coinbase also plans to roll out options trading for both crypto and stocks in the coming months.

Beyond public equities, Coinbase is adding real world asset perpetual futures tied to thematic indices like AI, China, Defense, and the Tech 100, plus Pre-IPO perps offering early exposure to private companies, starting with SpaceX and with Anthropic and OpenAI to follow. The company said it is the first approved by the CFTC to offer global regulated crypto derivatives, including options, to Americans.