Coinbase to launch industry-first 1:1 collateralized stock tokens

U.S. cryptocurrency exchange Coinbase has announced on its official X account that it will launch the industry's first 1:1 collateral-backed stock tokens. The exchange stated that users can now hold actual shares of U.S. companies in token form, which can be traded, held, and redeemed on-chain. Dividends will also be paid automatically. Coinbase added that these tokens are not derivatives or IOUs, describing them as the future of stocks.