Coinbase, the largest cryptocurrency exchange in the U.S., is actively pursuing approval from the U.S. Securities and Exchange Commission (SEC) to offer trading of tokenized equities. In an interview with Reuters, Coinbase Chief Legal Officer Paul Grewal stated that gaining such approval is a “huge priority” for the company. He reiterated the firm’s long-standing position in a post on X, writing, “We've been saying since earlier this year that [the SEC] should enable markets to unlock tokenized securities.” Tokenized equities are digital assets that represent ownership in a company and can be traded via blockchain platforms. Grewal noted that such assets could bring advantages like lower transaction costs and the ability to trade around the clock. Coinbase declined to comment further, directing inquiries to Grewal’s post.
The current SEC leadership under Chair Paul Atkins appears more receptive to digital asset innovation. Recent remarks from Acting Chair Mark Uyeda and Commissioner Hester Peirce suggest support for regulatory sandboxes and experimentation with products like tokenized stocks. Peirce highlighted, "participating firms could see what works and what doesn't, technically and commercially." Atkins announced plans for an “innovation exemption” to support decentralized finance (DeFi) projects, which was positively received by the crypto market. Kraken, another U.S.-based exchange, also plans to offer tokenized U.S. stocks and ETFs to international customers via the Solana blockchain.
