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Coinbase plans to launch tokenized stock trading in August for customers outside the United States. The company said the products will be backed 1:1 by the underlying asset and will offer true equity ownership.
Coinbase said tokenized stocks will include dividend payouts and full shareholder rights. The company also said users will gain the programmatic utility of the on-chain economy. The product will give traders access to stock markets outside normal hours. Coinbase said users can also lend tokenized stocks for yield, use them as collateral for loans, or transfer them to other users.
Brian Armstrong said the launch gives users the benefits of true ownership and tokenized assets. He said it marks a step toward wider access to U.S. markets.
Coinbase also plans to roll out options trading for crypto and stocks on its exchange. Options give holders the right to sell at a strike price, unlike futures contracts.
The company also plans real-world asset perpetual futures tied to equity themes. These include AI, China, defense, and tech. Its recent pre-IPO perpetual futures product already gives early exposure to private companies. Coinbase started with SpaceX and plans to add Anthropic and OpenAI later.
Pre-IPO perpetual futures have drawn strong demand in recent months. CryptoQuant said volumes across leading exchanges rose 1,100% since early May to about $12 billion. Binance held the largest market share in that period. Meanwhile, tokenized stocks still make up a small part of on-chain tokenized RWA value.
RWA.xyz said tokenized stocks account for about 5% of total tokenized RWA on-chain value, or around $1.5 billion. It also said Ondo leads the market with 59%, while xStocks holds 32%.
Armstrong also said on Fox News on Tuesday that big banks are trying to weaken the president's crypto agenda. He said banks want to protect profit margins and keep money in their own systems. Banks have pushed back against crypto legislation over stablecoin yields. They argue that higher yields could pull deposits away from traditional accounts.
Coinbase is also building tools for AI agents to make trades and transactions within user-set limits. Its Coinbase for Agents tool launched on June 11 and already supports ChatGPT and Claude.
The system uses x402, a machine-to-machine payments protocol created in May 2025. Coinbase said it has processed more than 100 million transactions, and about 157,000 agents used it as buyers in the past 30 days.
Read More: Coinbase Expands into Agentic Finance with New Trading and Payments Platform
The company is also adding a travel booking platform with 5% Bitcoin rewards, a USDC version of the Coinbase One card, and borrowing against stake Solana through Jito and Morpho.
Coinbase reported an unexpected Q1 2026 loss of $1.49 per share on $1.41 billion in revenue. Analysts had expected 27 cents in earnings per share and $1.52 billion in revenue. Lower crypto valuations reduced trading volumes and pressured revenue.
Coinbase is broadening beyond crypto with tokenized stock trading, options, real-world asset futures, and pre-IPO products. It is also building AI agent tools and new consumer services. The move shows a clear push to reduce reliance on trading cycles and expand its global financial reach.
