Coinbase and Bybit Collaborate on Tokenization and Distribution of US Stocks

According to a source familiar with the matter, Coinbase, a leading cryptocurrency exchange, is partnering with Bybit, a prominent crypto trading platform, to explore opportunities for tokenizing, storing, and distributing US public and pre-IPO stocks. The talks, which are ongoing, do not involve any acquisition or investment deals, as previously reported. Instead, Bybit plans to enter the US market through a separate entity, led by former co-CEO Helen Liu, with a local partner providing licensing and compliance, while Bybit contributes technology, products, and liquidity. The discussions between Coinbase and Bybit focus 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 five years. This collaboration is part of a larger trend, with other market players, such as Intercontinental Exchange and Deutsche Boerse, also exploring similar partnerships with crypto exchanges.