Coinbase CEO Brian Armstrong announces plans for tokenized U.S. stocks backed 1:1 by actual shares

Real onchain equities are coming.

@brian_armstrong Same thing happened in 2017 with DAO tokens, didn't end well.

@CYaDeepState @brian_armstrong Yeha global access to US markets I think is the key phrase

@brian_armstrong

@brian_armstrong 👀👀👀

@brian_armstrong big... if the onchain part is truly open. the question I keep coming back to with tokenized equities: composable and permissionless, or gated to approved wallets? that one detail decides whether builders can do anything with them.

@brian_armstrong Why you lying to your community? Im sure you already heard about what @Backpack and @solana did with $SPCX

@brian_armstrong that’s nuts. is it going to be on @base ?

@brian_armstrong @grok what Blockchain are these stocks being tokenized on?

@brian_armstrong @coinbase No US sucks.

@damienirel @brian_armstrong yes

@brian_armstrong Sorry to break it to you sir, but @coinbase is second. @Backpack Exchange already did this with great success with the $spcx IPO. Real tradable stock. The volume has been outstanding. It's been all over X. Check for yourself.

@brian_armstrong Have a white paper on how this will be done? Still plugged into the DTCC? Registration agents?

@brian_armstrong 👀👀👀

@brian_armstrong Let's get to work 🛫

@brian_armstrong global access to us markets except the us. legal note says outside the states only

@magsonthemoon @brian_armstrong Are we celebrating or drowning our sorrows?

@CitiZenSleuthX @brian_armstrong This is likely only for outside of the United States customers. Coinbase purchases and custodies 1:1 on their behalf. Not real tokenized securities. All DTCC 🗑️

@brian_armstrong Why does crypto always dump on the day of your announcements... Can the cabal stop exhausting the industry already

@brian_armstrong 🫰