Coinbase and Bybit Collaborate on Tokenization and Distribution of US Stocks

According to a source familiar with the plans, Coinbase, a leading cryptocurrency exchange, is partnering with Bybit, a prominent crypto trading platform, to explore tokenization, custody, and distribution of US public and pre-IPO stocks. The ongoing talks do not involve any acquisition or investment, as previously reported. Instead, Bybit is planning to enter the US market through a separate entity, led by former co-CEO Helen Liu, which will focus on licensing and compliance while Bybit provides technological support, products, and liquidity. The collaboration between Coinbase and Bybit is focused on leveraging Bybit's global reach, particularly in Asia, to provide users with access to tokenized US stocks. The partnership aims to bring US assets to a broader market, with the goal of making any asset accessible globally through a single app within the next five years. This development comes as other market players, such as Intercontinental Exchange and Deutsche Boerse, explore similar partnerships with crypto exchanges.