Coinbase is collaborating with Bybit to explore the tokenization and distribution of assets such as US stocks

BlockBeats News, April 20th, according to CoinDesk citing sources familiar with the matter, Coinbase is partnering with the cryptocurrency exchange Bybit to explore methods for tokenization, custody, and distribution of U.S. publicly tradable and pre-IPO stocks and other assets. The source added that the ongoing discussions do not involve any form of equity acquisition or similar transaction. Bybit's foray into the U.S. market involves a new entity led by former co-CEO Helen Liu and collaborating with a local partner, who is an undisclosed entity providing licensing and compliance services, rather than Coinbase. CoinDesk stated that both Bybit and Coinbase declined to comment.