Coinbase and Bybit Collaborate on Tokenization and Distribution of US Stocks

According to a source close to the matter, Coinbase, a prominent cryptocurrency exchange, is partnering with Bybit, a leading crypto trading platform, to explore opportunities for tokenizing, securing, and distributing US public and pre-IPO stocks. The discussions, currently underway, do not involve any plans for Bybit to acquire a stake in the US market through Coinbase, contrary to previous reports. Instead, Bybit is planning to enter the US market through a separate entity, reportedly led by former co-CEO Helen Liu, focusing on licensing, compliance, and technology. The collaboration between Bybit and Coinbase is centered on leveraging Bybit's global reach, particularly in Asia, to provide users with access to tokenized US stocks. The partnership aims to capitalize on the demand for US assets worldwide, with the goal of making these assets accessible to a broader market through a single app within the next five years. The move is part of a larger trend, with other market players, such as Intercontinental Exchange and Deutsche Boerse, also exploring similar partnerships with crypto exchanges.