What is Coinbase tokenized stock (xStock) (COINX)?

Deep Dive

1. Purpose & Value Proposition

COINX bridges traditional finance and crypto by tokenizing Coinbase’s stock (NASDAQ: COIN). Each token represents a share of the underlying equity, allowing global investors to trade it like a cryptocurrency. This eliminates barriers like geographic restrictions, brokerage accounts, and market hours while maintaining regulatory compliance (Toobit-for-spot-trading)).

2. Technology & Architecture

Built as dual-chain tokens (ERC-20 and Solana SPL), COINX leverages blockchain for instant settlements and cross-chain interoperability. The tokens are fully collateralized by actual Coinbase shares held by Backed Finance, ensuring price parity. This structure lets users hold, trade, or transfer tokenized stock via crypto wallets (Gate.io).

3. Key Differentiators

Unlike traditional stock trading, COINX offers:
- 24/7 markets: Trade outside NASDAQ hours.
- Fractional ownership: Buy/sell portions of a share.
- DeFi integration: Use tokens as collateral for loans or liquidity pools, as seen with Kamino Finance.

Conclusion

COINX merges equity investing with blockchain flexibility, targeting crypto users seeking stock exposure without legacy systems. As tokenized assets grow, will COINX’s dual-chain design become a standard for bridging TradFi and DeFi?