Coinbase Seeks SEC Nod for Tokenized Stocks, Eyes Rival Robinhood

- Coinbase requests SEC approval to offer tokenized stocks in the U.S. - Aims to compete with traditional brokerages by offering faster settlement, 24/7 trading, and reduced costs. On June 17, 2025, The Block reported that Coinbase is seeking a no-action letter from the SEC to offer tokenized stocks in the U.S. This initiative aims to give the cryptocurrency exchange a competitive edge, allowing it to compete against traditional brokerages like Robinhood and Charles Schwab by enabling faster settlement times, 24/7 trading, and potentially lower stock market costs. Coinbase is seeking regulatory approval from the U.S. Securities and Exchange Commission (SEC) to offer tokenized stocks to U.S. customers. In an interview with Reuters on June 17, Paul Grewal, Coinbase's Chief Legal Officer, called this initiative a "huge priority" for the company. This effort marks Coinbase's latest strategy to diversify its services and revenue streams beyond crypto assets. By offering tokenized stocks, Coinbase aims to tap into the broader financial market, thereby challenging conventional brokerages with its advanced technological infrastructure. Various other news outlets, including Reuters, Investing.com, and XTB.com, also reported this development on June 17. According to CoinMarketCap data on June 17, as of 12:00 UTC, Bitcoin (BTC) was trading at $29,350, with its 24-hour trading volume up by 1.8%. The data also showed Ethereum (ETH) trading at $1,850, with its 24-hour trading volume having increased by 1.5%.