Coinbase, Bybit in Talks on Tokenized U.S. Stock Access

Overview

• Reports Monday said Coinbase and Bybit are discussing tokenizing, holding, and distributing U.S. public and pre‑IPO shares for non‑U.S. users.
• The talks focus on a product linkup rather than an equity stake or a Coinbase‑facilitated entry into the U.S. for Bybit.
• Bybit is planning a separate U.S. joint venture led by former co‑CEO Helen Liu, with an unnamed local partner providing licensing and compliance.
• Tokenization creates blockchain versions of stocks that can trade around the clock with faster settlement, which could ease access in places with limited brokerage options.
• Regulators are pressing for tighter oversight of tokenized equities, even as major exchange operators have invested in crypto platforms like OKX and Kraken this spring.