Coinbase and Base Prepare 1:1 Tokenized Stock Launch to Challenge Robinhood

• Base and Coinbase are developing a tokenized equities product backed one-for-one by actual underlying corporate shares.
• Robinhood Chain set an early benchmark in bringing stock-linked derivative contracts to an EVM ecosystem.

Since Robinhood introduced tokenized stocks as an innovation, Coinbase-supported Base has intensified efforts to develop tokenized stocks on blockchain platforms. In an interview on July 21, 2026, Base founder Jesse Pollak revealed that Robinhood had gotten ahead in this aspect through tokenized stock offerings on blockchain networks.

On July 1, 2026, Robinhood launched its blockchain mainnet, making real assets available on the platform through onchain technology. According to Pollak, Base is behind in this field, and both Coinbase and Base are collaborating to close the gap.

The rivalry shows how tokenized securities are becoming increasingly relevant in the current business environment where blockchain firms strive to connect traditional financial instruments with decentralized technologies. Both blockchain firms seek to broaden access to equities using blockchain technology but through different products.

Difference Between Base and Robinhood

At present, Robinhood uses Classic Stock Tokens, which are MiFID II derivative contracts. Custodians licensed under this program hold the underlying shares, but investors only get price exposure without any voting rights. Meanwhile, Coinbase has come up with a separate approach for its tokenized stock to be issued to international customers rather than Americans.

In the new approach by Coinbase, the stock tokens will have direct one-to-one backing from the equity. Investors will not only get ownership rights but also dividends and voting power for their tokens. According to Pollak, direct equity backing provides more capital efficiency and institutional legitimacy compared to derivative-based solutions. But Coinbase has not yet given any details about the custody, issuance, compatibility, and transfer procedures for its planned stocks on the Base platform.

Rise of Competition in Tokenized Stock Offerings

The rivalry between Base and Robinhood highlights how quickly the market of tokenized real-world assets is evolving. Industry reports estimate the value of the tokenized stocks industry at around $1.85 billion, as other providers, such as Backpack and Kraken-owned xStocks, continue to develop the blockchain-based trading of stocks by means of round-the-clock markets. Regulatory issues remain an important factor of entry into this market. 

Currently, Robinhood operates its tokenized stock derivatives in European countries, and Coinbase is planning to offer directly backed tokenized equities to its non-US customers first. None of these companies have confirmed that US users will be able to use the products. Now all market players are waiting for more information about Coinbase’s custody services, issuance procedures, and transfer mechanisms.

Highlighted Crypto News:
Patrick Witt Delays Military Training to Lead White House Push for CLARITY Act