Coinbase presented three models for tokenized equities, distinguishing products based on whether they provide actual ownership or merely synthetic exposure to a share price. Its tokens, launched on August 24, 2026 and built on the B20 standard, provide a direct claim on real shares of Apple, Nvidia, Meta, and Alphabet. The underlying shares are held by Alpaca Securities in segregated accounts supervised by ADGM. Eligible investors outside the United States can access them under Regulation S, while voting rights are not yet operational and dividends are reinvested rather than paid in cash. Coinbase positions the products within its “Everything Exchange” strategy and says the model is seeing strong demand amid competition from Kraken and Robinhood.
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