Coinbase launches tokenized stocks on Base

Coinbase's decision to bring tokenized equities onto Base is a notable signal that established exchanges see real-world assets as a product line rather than a pilot. The immediate impact falls on venues already pushing tokenized stocks, since a major US-listed exchange now competes directly on distribution and credibility. The open question is whether demand for tokenized versions of US equities comes from crypto-native users or from traditional brokerage customers, and how regulators treat the structure as it scales.