Coinbase and Bybit Collaborate on Tokenization and Distribution of US Stocks

According to sources, Coinbase, a leading cryptocurrency exchange, is in talks with Bybit, a prominent crypto trading platform, to explore opportunities for tokenizing, custoding, and distributing US public and pre-IPO stocks. The discussions, which are ongoing, do not involve any acquisition or investment deals, contrary to previous reports. Instead, the partnership aims to leverage Bybit's global reach, particularly in Asia, to provide users with access to tokenized US stocks. Bybit is reportedly planning to enter the US market through a new entity, led by former co-CEO Helen Liu, with a local partner providing licensing and compliance. The collaboration between Coinbase and Bybit is focused on a global scale, utilizing Bybit's international presence to bring US assets to a broader market. The companies believe that tokenization will enable users to access any asset globally through a single app within the next five years. This development comes as other market players, such as Intercontinental Exchange and Deutsche Boerse, are also exploring similar partnerships with crypto exchanges.