Coinbase Seeks Approval to Offer Tokenized Stock Trading Service

Paul Grewal, Chief Legal Officer at cryptocurrency exchange Coinbase, disclosed to Reuters that the company has applied to the U.S. Securities and Exchange Commission (SEC) for approval to offer a tokenized stock trading service, as reported by Reuters on the 18th. Grewal emphasized that launching this service is a high priority. While it will place Coinbase in competition with companies like Robinhood and Kraken, approval could turn it into a new revenue stream for Coinbase. Related: Cryptocurrency exchange Kraken begins phased introduction of stock and ETF trading services. Furthermore, Mr. Grewal has already submitted the formal approval application...