Coinbase to launch 1:1 physically backed tokenized US stocks

CoinFeed reported on June 16th that Coinbase announced the upcoming launch of its first batch of 1:1 physically backed tokenized US stocks. Users can hold, trade, and redeem actual shares of the corresponding companies on-chain and automatically receive dividends. Coinbase stated that this product differs from previously offered tokenized stocks in the form of derivatives or IOUs, as it is based on actual equity ownership. Currently, the product is only available in compliant jurisdictions outside the United States, and more details will be announced at the product launch event this afternoon Eastern Time.