Analysis: Coinbase's application for tokenized stock trading will compete with Robinhood and Jiaxin Wealth Management

Odaily Planet Daily News: Coinbase is seeking approval from the US Securities and Exchange Commission to issue blockchain based stocks in the United States. If approved, this move will allow Coinbase to offer traditional stock trading based on blockchain, which will put it in competition with securities firms such as Robinhood and Jiaxin Wealth Management. Paul Grewal, Chief Legal Officer of Coinbase, described this initiative as a "top priority" and revealed that Coinbase is seeking a no action letter or waiver from the US Securities and Exchange Commission (SEC), which means that if Coinbase continues to issue tokenized stocks, regulatory officials will not take enforcement action. Paul Grewal refused to disclose whether Coinbase has officially submitted a request to the US Securities and Exchange Commission or provided a timeline for its launch. （The Block）