Coinbase launched tokenized stock trading on the Base network on August 24, 2026, initially supporting four stocks: Apple, Nvidia, Meta, and Alphabet. These tokenized assets are issued through Coinbase’s special purpose framework established in Abu Dhabi, representing the latest development in the convergence of traditional securities and blockchain technology. Tokenized stocks allow investors to hold and trade digital versions of traditional stocks through blockchain networks, enabling 24/7 trading and instant settlement.

Event Details

Technical Architecture and Operational Model

Base is an Ethereum layer-2 network launched by Coinbase in 2023, designed to reduce transaction costs and increase throughput. The launch of tokenized stocks is based on the following technical features:

• Low-cost trading: Base network gas fees are significantly lower than Ethereum mainnet, suitable for high-frequency trading scenarios
• Fast settlement: Blockchain transactions can be confirmed within seconds, much faster than traditional T+2 settlement cycles
• 24/7 operation: Blockchain networks run around the clock, breaking traditional stock market trading hour restrictions

Coinbase issues these tokenized assets through the Abu Dhabi framework, indicating it is building compliant offshore issuance channels to circumvent strict regulation by the U.S. Securities and Exchange Commission.

Competitive Landscape

The tokenized stock market is rapidly heating up, with key participants including:

• Securitize: Partnered with BlackRock to launch tokenized U.S. Treasuries, managing over $1 billion in assets
• TradFi: Focused on real estate tokenization, has completed multiple large transactions
• Chainlink: Provides cross-chain interoperability infrastructure, supporting multi-chain tokenized assets

Coinbase’s entry intensifies competition in this track. Its advantage lies in having a large retail user base and mature trading infrastructure, but it still faces challenges in expanding institutional clients.

Panoramic Perspective

Coinbase’s launch of tokenized stocks marks a strategic shift in the digital asset industry from speculation-driven to utility-driven. From a deeper analytical perspective, this event will have three industry impacts:

First, a paradigm challenge to traditional financial infrastructure. The core value proposition of tokenized stocks lies in eliminating structural inefficiencies in traditional securities markets. Global securities markets pay over $100 billion annually in clearing, settlement, and custody fees, and blockchain technology is expected to reduce these costs by more than 80%. More importantly, tokenization enables fractional ownership, allowing small investors to participate in high-priced stock investments and promoting financial democratization.

Second, strategic choices in regulatory arbitrage. Coinbase’s choice of Abu Dhabi as the issuance framework reflects the strategic adjustment of crypto enterprises under U.S. regulatory pressure. The Abu Dhabi Global Market has established a relatively clear digital asset regulatory framework, attracting multiple crypto companies to establish operating entities. While this regulatory arbitrage reduces compliance costs in the short term, it may face challenges in cross-border regulatory coordination in the long run.

Third, breakthrough at the tipping point of institutional adoption. The launch of tokenized stocks is pushing institutional investors from observation to participation. Traditional asset management giants like BlackRock and Franklin Templeton have already deployed tokenized funds, and Coinbase’s actions may accelerate this trend. When the liquidity and depth of tokenized assets reach critical scale, traditional financial infrastructure will face fundamental restructuring.

Multi-Perspective Analysis

Supporting viewpoints:

• Coinbase’s CEO stated that tokenized stocks are the “natural evolution of financial infrastructure”
• The Blockchain Association believes this move will “accelerate the digital transformation of traditional finance”
• Some hedge fund managers point out that the 24/7 trading feature of tokenized assets “provides significant arbitrage opportunities”

Cautious viewpoints:

• The U.S. Securities and Exchange Commission has previously stated that most tokenized securities may constitute securities and must comply with federal securities laws
• Traditional exchange representatives worry that tokenized platforms may circumvent investor protection requirements
• Legal scholars note that cross-border tokenized issuance faces complex legal conflict issues

Industry observers believe the success of tokenized stocks will depend on three key factors: regulatory clarity, liquidity, and custody security. The next 12 months will be a critical window for this track, and first movers are expected to establish lasting competitive advantages.

Editor: GoodInfo Global News Team

Blockchain fintech company Securitize has made history by becoming the first company to simultaneously list shares on the New York Stock Exchange and on blockchain. The company tokenized $295 million of its own stock across the Solana and Avalanche blockchains, making it the largest issuer-sponsored tokenized stock at launch. According to The Block, Securitize President Brett Redfearn stated the company is in discussions to tokenize other IPOs “definitely within the next year,” suggesting this model could become an industry norm.

Event Details

According to CoinDesk, Securitize’s tokenized shares represent approximately $295 million of the company’s own stock, issued on both Solana and Avalanche blockchains. This is the largest issuer-sponsored tokenized stock to date, aiming to demonstrate the superiority of its model against rival third-party stock token issuers.

The Block reported that NYSE President Brett Redfearn said at the listing ceremony that Securitize is in discussions with other companies to tokenize more IPOs “definitely within the next year.” This means the integration of traditional securities issuance with blockchain technology is moving from experimental stages to scaled application.

What makes this listing special is that Securitize chose not to rely on third-party platforms to tokenize its stock, instead using its own technology infrastructure to issue directly on-chain. This “issuer-sponsored tokenization” model contrasts sharply with the current market approach where third-party platforms map traditional stocks onto blockchain.

From a technical architecture perspective, choosing Solana and Avalanche rather than Ethereum reflects the issuer’s consideration of transaction speed and costs. Solana is known for high throughput and low fees, while Avalanche is favored by institutions for its subnet architecture and fast finality. Dual-chain deployment also reduces single blockchain platform risk.

Broader Analysis

Securitize’s simultaneous listing on the NYSE and blockchain marks a new phase in the convergence of traditional capital markets and decentralized finance. The significance of this event extends far beyond a single company’s listing — it represents the birth of an entirely new paradigm for securities issuance and trading.

From the perspective of capital market evolution, this model breaks down the boundary between traditional securities issuance and blockchain token issuance. Previously, tokenized stocks were typically created by third-party platforms “mapping” already-issued traditional stocks onto blockchain, creating a derivative-style token. Securitize’s approach issues original stock directly on-chain, giving on-chain tokens the exact same legal status and rights as traditional stock. If widely adopted, this model would fundamentally transform securities issuance infrastructure.

From a regulatory perspective, Securitize’s ability to list simultaneously on the NYSE and on-chain indicates US regulators’ attitude toward blockchain securities is shifting from cautious observation to conditional acceptance. The New York Stock Exchange, as one of the world’s oldest exchanges, embracing blockchain technology sends a powerful signal. This could push other traditional exchanges to accelerate blockchain integration exploration.

From an industry competitive landscape analysis, Securitize’s move directly challenges other players in the RWA tokenization track. By proving issuers can complete tokenization independently without third-party intermediaries, Securitize is attempting to redefine how value is distributed across the industry value chain. This could trigger a wave of issuers building their own tokenization infrastructure.

Perspectives

Supporters: Blockchain industry advocates see this as a milestone in “the convergence of traditional and decentralized finance.” They note that when traditional giants like the NYSE begin accepting on-chain stock issuance, the digital transformation of the entire financial industry becomes irreversible.

Cautious Voices: Traditional finance practitioners warn that on-chain stock issuance still faces numerous challenges, including cross-chain interoperability, smart contract security, and legal remedies for investors who lose on-chain assets.

Regulatory View: Securities law experts note this model’s successful implementation depends on clear regulatory frameworks. The SEC’s attitude toward tokenized securities will be the key factor determining whether this model can scale.

Competitor Response: Other tokenization platforms may face pressure to demonstrate unique value of their third-party tokenization model versus issuer-sponsored approaches.

Editor: GoodInfo Global News Team

Core Summary

Credit Agricole, one of France’s largest banking groups, has officially launched a euro stablecoin named EURXT. This is the first major European traditional bank to issue a euro stablecoin, marking a new phase in the deep integration of traditional finance and the cryptocurrency world. EURXT will be issued on the Ethereum blockchain and pegged 1:1 to the euro.

Event Details

According to CoinDesk, EURXT is issued by the CA Corporate and Investment Bank division of Credit Agricole, aiming to provide enterprise clients with more efficient and cost-effective cross-border payment and settlement services. The stablecoin has been approved by France’s prudential regulator (ACPR).

Credit Agricole stated that EURXT was launched to meet growing enterprise demand for “faster, more secure, and more transparent cross-border payment solutions.” The bank emphasized that EURXT is fully backed by euro deposits and short-term euro-denominated assets, ensuring the 1:1 peg.

This move comes as Europe’s MiCA (Markets in Crypto-Assets) regulation takes full effect on July 1, providing a clear legal framework for stablecoin issuance.

Panoramic Perspective

The launch of EURXT is a milestone. For a long time, the stablecoin market has been dominated by the US dollar, with USDT and USDC accounting for over 90% of market share. The absence of a euro stablecoin has been a weakness in Europe’s digital economy. Credit Agricole’s entry as a systemically important eurozone bank will greatly enhance the euro’s influence in the digital currency space.

From a macro perspective, this reflects a fundamental shift in traditional banks’ attitude toward blockchain technology. From initial observation and resistance to now actively embracing and launching native products, traditional financial giants are incorporating blockchain into core business infrastructure. This trend is particularly evident in cross-border payments, trade finance, and asset tokenization.

Meanwhile, EURXT’s launch also signals the maturation of stablecoin regulatory frameworks. MiCA sets strict capital adequacy, reserve transparency, and consumer protection requirements for stablecoin issuers. The entry of compliant banks will squeeze out non-compliant issuers and drive industry standardization.

Multiple Perspectives

Banking analysts believe traditional banks have natural advantages in issuing stablecoins: brand reputation, client base, and regulatory compliance capabilities. This will allow them to capture significant market share, especially in institutional and enterprise payment sectors.

Crypto natives worry that bank-issued stablecoins may introduce centralization risks, contradicting the decentralization ethos of cryptocurrency. They prefer algorithmic or decentralized stablecoins.

Regulators are cautiously optimistic about traditional banks entering stablecoins, believing that under strict regulatory frameworks, bank participation helps improve market stability and consumer protection.

Editor: GoodInfo Global News Team