Latest news with #tokenizedEquities
Yahoo
02-07-2025
- Business
- Yahoo
Kraken's tokenized US equities go live on Solana for global users
Kraken's tokenized US equities go live on Solana for global users originally appeared on TheStreet. Kraken has announced the phased rollout of tokenized U.S. equities for eligible non-U.S. users, a major initiative aimed at democratizing access to global financial markets. The initiative leverages Backed's xStocks. They will be issued on the Solana blockchain, offering 60 tokenized assets (comprising top U.S. stocks and ETFs) that are available for 24/7 trading directly from the Krak app. The tokenized equities provide way more than just exposure to the traditional markets. You can withdraw xStocks to self-custodial wallets, use xStocks as collateral in DeFi, and trade them 24/7—all of which make it fundamentally more flexible than the traditional equivalent."For the first time, people all over the world can own and use a share of a tokenized stock like they would use money," said Kraken co-CEO Arjun Sethi. "This is not about novelty—it's about shifting power back to individuals and removing barriers long imposed by geography or institutional gatekeepers." Adam Levi, co-founder of Backed, stated that tokenized equities represent the next stage of crypto evolution, creating a genuine intersection between traditional finance and a decentralized economy. "This is about access, efficiency, and composability on a global scale." The SPL-based tokens represent the first step of a broader rollout, with Kraken and Backed announcing plans to expand to other fast blockchains soon. The launch reforms access to capital markets, allowing them to be non-permissioned, open, and self-custodial. Kraken's tokenized US equities go live on Solana for global users first appeared on TheStreet on Jul 1, 2025 This story was originally reported by TheStreet on Jul 1, 2025, where it first appeared.
Yahoo
19-06-2025
- Business
- Yahoo
Barclays weighs in as Coinbase seeks permission to list tokenized equities
-- Coinbase is seeking regulatory approval from the U.S. Securities and Exchange Commission (SEC) to offer tokenized equities, according to a report cited by Barclays analysts. While the move could represent a step toward modernizing equity markets, Barclays believes the path forward is not without complications. 'Tokenized equities could offer several benefits,' the analysts wrote, 'including back-office cost savings, faster settlement times, and potentially easier facilitation of international access.' Furthermore, the bank notes that the proposed model would allow 24/7 trading, similar to crypto assets, and reduce costs by cutting out traditional clearing and settlement layers. Coinbase's plan follows a similar move by Kraken, which announced it would roll out tokenized U.S. equities across more than 50 stocks and ETFs in select international markets. During its IPO process, Coinbase (NASDAQ:COIN) had floated the idea of tokenizing its own shares but did not receive SEC approval. Still, Barclays cautioned the initiative faces 'several challenges, primarily regarding how these products will be regulated (if they will even be allowed).' Key concerns include compliance with existing rules like Reg NMS and NBBO, KYC/AML enforcement, and integration into the consolidated tape system. 'Coinbase is not an SEC-registered broker-dealer,' Barclays noted, though it has acquired entities with relevant registrations, such as Keystone Capital and Venovate Marketplace, which could be used to facilitate a compliant rollout. Barclays also questioned the consumer value proposition: 'To the retail trader, the marginal benefit of trading tokenized stocks is quite small.' While the technology may enhance operational efficiencies, Barclays says retail traders already experience near-instant settlement and low execution costs. Elsewhere, Andrei Grachev, Managing Partner at DWF Labs, told that "Coinbase's move signals that tokenized equities are entering regulated market structure." "The demand from institutions is real, and the infrastructure is catching up," added Grachev. "Regulated tokenized securities will need the same support as digital dollars: liquidity depth, real-time pricing, and operational resilience.' Related articles Barclays weighs in as Coinbase seeks permission to list tokenized equities Microsoft plans to cut thousands of jobs in sales division - Bloomberg BofA starts Sandisk at Buy on margin upside, NAND recovery prospects Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-06-2025
- Business
- Yahoo
Novogratz Sees Stablecoin Bill Bringing TradFi to Crypto
Billionaire Michael Novogratz, CEO of Galaxy Digital Holdings Ltd., expects to see tokenized equities "for crypto and non-crypto" as he discusses what the passage of landmark stablecoin legislation means for his firm and the cryptocurrency market.
Yahoo
18-06-2025
- Business
- Yahoo
Coinbase wants SEC to greenlight tokenized stock trading
Coinbase wants SEC to greenlight tokenized stock trading originally appeared on TheStreet. Coinbase (Nasdaq: COIN), the largest U.S. crypto exchange, is seeking regulatory authority from the Securities and Exchange Commission (SEC) to offer tokenized equities, a move that could position it to compete with Robinhood and Charles Schwab. Coinbase's Chief Legal Officer, Paul Grewal, said in a Reuters interview that the concept is a "huge priority." Tokenized equities means taking a traditional share of a company and converting it into digital tokens that are traded on the blockchain. Advocates argue that this reduces brokerage fees, speeds up settlements, and enables individuals to trade 24/7. But there are obstacles. At present, tokenized equities cannot be traded in the United States. Competitor exchange Kraken has recently rolled out "xStocks" outside the U.S., which provides a snapshot of future trading possibilities for tokenized stocks worldwide. To proceed in a U.S. environment, Coinbase would require a "no-action letter" or "exemptive relief" from the SEC, essentially guaranteeing that the company would not be subject to enforcement action if it pursued these types of transactions. Grewal would not confirm whether Coinbase had submitted a formal request but said that institutions have been hesitant as a result of the lack of guidance presently. Coinbase currently holds a broker-dealer license from a company it acquired in 2018, but that entity is no longer active. The request comes against the backdrop of a broader shift in U.S. crypto policy under President Donald Trump, under whose tenure the SEC has abandoned its legal cases against key exchanges. If granted, this could create a new and massive source of revenue for Coinbase, entirely redefining retail investing. Coinbase's stock is trading at $250.02 at press time, down over 4.55% in the last 24 hours. Coinbase wants SEC to greenlight tokenized stock trading first appeared on TheStreet on Jun 17, 2025 This story was originally reported by TheStreet on Jun 17, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
17-06-2025
- Business
- CTV News
Coinbase seeking U.S. SEC approval to offer blockchain-based stocks
An advertisement for Coinbase, center, is displayed on NASDAQ billboard in Times Square, New York, Thursday, Nov. 4, 2021. (AP Photo/Seth Wenig, File) Coinbase is seeking a green light from the U.S. Securities and Exchange Commission to offer 'tokenized equities' to its customers, the crypto exchange's chief legal officer told Reuters. If granted, the move would allow Coinbase to effectively offer stock trading via blockchain technology, placing it in direct competition with retail brokerages such as Robinhood and Charles Schwab, and could open a new business segment for Coinbase. The concept is a 'huge priority,' said Paul Grewal, Coinbase's chief legal officer. Tokenizing equities is a process in which shares of a company are converted into a digital token, similar to how cryptocurrencies are traded. Instead of holding the securities directly, investors hold tokens that represent ownership of the securities. Proponents have said that tokenized equities could reduce trading costs, enable faster settlement, and facilitate around-the-clock trading. Critics have said there are plenty of gaps that need to be addressed before tokenized equities can be commonly traded. The World Economic Forum, in a report last month, pointed to a lack of sufficient secondary-market liquidity as well as the lack of a clear global standard as two major challenges for adoption. An SEC representative did not immediately respond to a request for comment. Currently, tokenized equities are not available for trading in the United States, but several firms are experimenting with the concept. Rival crypto exchange Kraken said last month that it is launching tokens of U.S. equities, called xStocks, which will be available in select markets outside the United States. To offer tokenized equities in the United States, Coinbase would either need to be granted a 'no action letter' or exemptive relief from the SEC, in which the securities regulator would pledge not to pursue an enforcement action if Coinbase moved forward. Typically, companies that offer trading in securities have to be registered as broker-dealers. The SEC sued the company in 2023 during former President Joe Biden's administration, alleging that it was operating as one without registering with the agency. The SEC under President Donald Trump's administration dropped that case this year. Coinbase acquired a broker-dealer in 2018, providing it with a license to offer similar services, but that affiliate has not been active. A no-action letter would be issued by SEC staff in response to a request from a company like Coinbase, saying that the SEC would not object to a certain offering and would not recommend an enforcement action if a firm were to move forward with that offering. Grewal did not say if Coinbase had already submitted an official request to the SEC or when a potential product launch might happen. 'With a no-action letter, an issuer of a tokenized equity or a platform that wishes to offer secondary trading in those equities can have some confidence, some comfort, that the SEC has adopted its view of why this product is compliant,' Grewal said. 'It's that confidence that has been lacking so far, and I think really held back a lot of the institutional adoption' of crypto and blockchain technology, Grewal added. The move from Coinbase comes as Trump has sought to overhaul U.S. cryptocurrency policy after courting cash from the industry on the campaign trail. Trump has appointed industry-friendly regulators and has hosted industry leaders at the White House. Cryptocurrencies have reacted favorably, with bitcoin reaching all-time highs this year. The SEC under Trump has dropped lawsuits against a litany of crypto companies, including Coinbase, Binance, and Kraken, and has instituted a crypto task force charged with devising new rules for digital assets. --- Reporting by Hannah Lang in New York; editing by Pete Schroeder, Will Dunham and Rod Nickel
