Coinbase, one of the well-known crypto exchanges, is attempting to obtain approval from the U.S. Securities and Exchange Commission (SEC) to sell tokenized equities to their users. Tokenized equities are digital versions of regular company shares. Rather than holding ordinary stock, investors would hold virtual tokens representing company shares.
Whilst, tokens are similar to cryptocurrencies and can be exchanged on a blockchain. Coinbase Chief Legal Officer Paul Grewal informed Reuters that this is the company’s number one priority. If approved, it would enable Coinbase to move into stock trading, placing it side by side with companies such as Robinhood and Charles Schwab.
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