The approval could bring the firm into direct competition with retail brokers like Robinhood.
Tokenized equities enable digital stock trading, but U.S. regulations currently prevent this activity.
Coinbase is seeking permission from the U.S. Securities and
Exchange Commission (SEC) to offer tokenized equities. The company’s Chief
Legal Officer, Paul Grewal, disclosed the effort in an interview with Reuters.
If the SEC allows it, Coinbase would be able to provide
stock trading services through blockchain technology. This could place the
crypto exchange in direct competition with platforms like Robinhood and Charles
Schwab. It may also allow Coinbase to enter a new line of business.
Tokenized Stocks Face Support and Criticism
Paul Grewal, Chief Legal Officer, Coinbase, Source: LinkedIn
Tokenized equities are digital tokens that represent shares
in a company. Investors would not hold the stocks directly but would own the
tokens linked to them.
These tokens are traded similarly to cryptocurrencies. Grewal
called the initiative a “huge priority” for the company.
Supporters of the idea say tokenized equities could reduce
trading costs, speed up settlement, and allow for 24/7 trading. However,
critics say major challenges remain.
A recent report from the World Economic
Forum cited two main concerns: low liquidity in secondary markets and a lack of
global standards. The SEC has not commented publicly on Coinbase’s request.
Tokenized Stock Trading Faces U.S. Hurdles
In the United States, tokenized equities are not currently
available for trading. However, some firms are testing the model in
international markets. Last month, Kraken said it would offer U.S. equity
tokens, called xStocks, outside the country.
To legally offer tokenized equities in the U.S., Coinbase
would need a “no action letter” or exemptive relief from the SEC. This would
mean the SEC agrees not to take enforcement action if Coinbase proceeds.
Coinbase is not registered as a broker-dealer. The SEC sued
the company in 2023 under the Biden administration, claiming it acted as a
broker-dealer without registration. The case was dropped earlier this year
under the Trump administration.
Grewal did not confirm whether Coinbase had filed a formal
request or when a product might launch. He explained that a no action letter
would offer assurance that the SEC does not object to the offering. According
to Grewal, the lack of regulatory clarity has slowed institutional interest in
blockchain-based financial products.
Coinbase is seeking permission from the U.S. Securities and
Exchange Commission (SEC) to offer tokenized equities. The company’s Chief
Legal Officer, Paul Grewal, disclosed the effort in an interview with Reuters.
If the SEC allows it, Coinbase would be able to provide
stock trading services through blockchain technology. This could place the
crypto exchange in direct competition with platforms like Robinhood and Charles
Schwab. It may also allow Coinbase to enter a new line of business.
Tokenized Stocks Face Support and Criticism
Paul Grewal, Chief Legal Officer, Coinbase, Source: LinkedIn
Tokenized equities are digital tokens that represent shares
in a company. Investors would not hold the stocks directly but would own the
tokens linked to them.
These tokens are traded similarly to cryptocurrencies. Grewal
called the initiative a “huge priority” for the company.
Supporters of the idea say tokenized equities could reduce
trading costs, speed up settlement, and allow for 24/7 trading. However,
critics say major challenges remain.
A recent report from the World Economic
Forum cited two main concerns: low liquidity in secondary markets and a lack of
global standards. The SEC has not commented publicly on Coinbase’s request.
Tokenized Stock Trading Faces U.S. Hurdles
In the United States, tokenized equities are not currently
available for trading. However, some firms are testing the model in
international markets. Last month, Kraken said it would offer U.S. equity
tokens, called xStocks, outside the country.
To legally offer tokenized equities in the U.S., Coinbase
would need a “no action letter” or exemptive relief from the SEC. This would
mean the SEC agrees not to take enforcement action if Coinbase proceeds.
Coinbase is not registered as a broker-dealer. The SEC sued
the company in 2023 under the Biden administration, claiming it acted as a
broker-dealer without registration. The case was dropped earlier this year
under the Trump administration.
Grewal did not confirm whether Coinbase had filed a formal
request or when a product might launch. He explained that a no action letter
would offer assurance that the SEC does not object to the offering. According
to Grewal, the lack of regulatory clarity has slowed institutional interest in
blockchain-based financial products.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Executive Interview | Jas Shah | FMLS:25
Executive Interview | Jas Shah | FMLS:25
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
