Coinbase is pursuing an “everything exchange” with tokenized equities and IPO access, strategy chief John D’Agostino said. Its tokenization model is launching in Abu Dhabi, with US investor access a future goal; Coinbase says US retail customers can participate in IPOs.
D’Agostino said the tokenization model would be backed one-to-one by the actual equity and give token holders traditional rights. He said the shift to on-chain systems would take time, with Coinbase offering products in one location and using blockchain and crypto rails where possible.
The interviewer said SEC innovation-exemption guidance appeared to allow certain tokenized stocks to trade in the US. D’Agostino said a version of a bill Coinbase opposed would have excluded crypto from the SEC’s ability to grant such exemptions; he cited hundreds of early exemptions for ETFs as important to industry growth.
