According to a source familiar with the plans, Coinbase, a prominent cryptocurrency exchange, is partnering with Bybit, a leading crypto trading platform, to explore opportunities for tokenizing, custoding, and distributing US public and pre-IPO stocks. The ongoing talks do not involve any acquisition or investment, as previously rumored. 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, compliance, and technology.
The collaboration between Coinbase and Bybit is focused on leveraging their respective strengths to bring US assets to a global audience. The companies are exploring synergies in custody and distribution, with the goal of making tokenized US stocks accessible to users worldwide. This development comes as other market players are also exploring similar partnerships, highlighting the growing interest in tokenized assets.