Coinbase, Kraken, Binance Launch Tokenized Assets Tuesday

Coinbase partnered with Yahoo Finance to link equity tickers directly to its exchange, part of what the company calls its Everything Exchange vision. The partnership lets users access crypto and traditional equities in one place. Coinbase General Manager George Leimer said the move addresses a clear shift in investor behavior toward considering digital assets alongside traditional investments. Coinbase described the effort as removing artificial boundaries between asset classes and building for the next generation of markets.

Kraken launched tokenized equity perpetual futures contracts for non-U.S. clients, offering up to 20x leverage on stocks, indices, and commodities through its xStocks framework. Kraken Global Head of Consumer Mark Greenberg said regulated tokenized equities as perpetual futures represent a new chapter for global capital markets where equities trade with the same speed and accessibility as crypto via tokenization. The platform completed a ₱86.49 billion ($1.5 billion) acquisition of NinjaTrader in May 2025 to integrate traditional derivatives with crypto markets, laying the groundwork for this launch.

Binance is offering tokenized assets through Ondo Finance via its Binance Alpha platform. The exchange raised ₱115.32 billion ($2 billion) from Abu Dhabi's state-owned investment firm MGX in March 2025. Binance noted these tokenized assets do not grant all shareholder rights, such as voting rights. The coordinated push comes as real-world assets using blockchain grew 300% year-over-year, jumping from ₱363.26 billion ($6.3 billion) on February 25, 2025 to ₱1.44 trillion ($25 billion).