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 talks are ongoing and do not involve Bybit acquiring a stake in Coinbase or a similar arrangement to enter the US market, as previously reported. Instead, Bybit is planning to enter the US through a separate entity, reportedly led by former co-CEO Helen Liu, which will focus on licensing, compliance, and providing technological expertise. The collaboration between Coinbase and Bybit is centered around leveraging Bybit's global reach, particularly in Asia, to offer tokenized versions of US stocks to international users. 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.