Coinbase xStock (COINX)

Rank #1483

Coinbase xStock (COINX) is a tokenized stock token aimed at simplifying access to investments that were previously limited by borders, brokerages, and other barriers. The xStocks ecosystem’s proposal is to transform traditional assets into tradable tokens while maintaining backing by equivalent value.

What are xStocks and how are they backed

xStocks represent tokenized stocks and are backed 1:1 by the underlying assets. This seeks to offer backing linked to the value of the traded security, in addition to a legal claim related to the value of the stock.

In practice, the model was designed to make investing more accessible for participants outside the United States, while maintaining compliance with European Union regulation.

Use with DeFi and integration with the ecosystem

Coinbase xStock (COINX) can be used together with DeFi protocols, functioning as a tokenized asset within applications in the sector. As it is a token, it tends to be composable, allowing integration with other functionalities of the crypto ecosystem.

Access and trading on exchanges

xStocks are intended to offer access to 57 U.S. stocks and ETFs for regular users, via centralized and decentralized exchanges. Thus, the tokens can be traded easily in different market environments.

In addition, the structure allows xStocks to be integrated with other DeFi protocols like any other token, expanding forms of use beyond simple exchange.