Coinbase CEO teases ‘everything exchange’ to bring stocks on-chain
Coinbase CEO Brian Armstrong says the exchange is about to blur the line between TradFi and crypto.
In a post on X, Armstrong wrote, “We’re launching the first U.S. futures that give exposure to the top U.S. tech stocks and crypto at the same time… Coming on September 22,” adding that more products will follow as Coinbase builds “the everything exchange.”
JUST ANNOUNCED: @coinbase CEO Brian Armstrong announces launch of first-ever US futures offering joint exposure to top tech stocks and crypto.
— Roundtable Network (@RTB_io) September 2, 2025
“This is just the beginning of the everything exchange.”#Trump #America #Crypto #Coinbase #Stocks pic.twitter.com/aOVHRcBDzN
Why this is different
U.S. exchanges have offered crypto futures for years, but bundled exposure to blue-chip tech stocks and major crypto in a single futures product is a new swing at mainstreaming on-chain markets for American traders.
Related: What is tokenization? Explained
It also tracks Coinbase’s recent push into perpetual-style futures in the U.S. (BTC, ETH first; later SOL and XRP), which Armstrong hailed as “great progress.” Those contracts trade 24/7 with long-dated expiries on a CFTC-regulated venue.
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The tokenized-stocks tailwind
Armstrong’s teaser lands as tokenized equities quietly scale on public chains.
According to RWA.xyz, tokenized stocks now sit around the low-hundreds of millions in total on-chain value across issuers, with Backed Finance’s xStocks alone showing $87.56M total value, 59.6K holders, and $163M in monthly transfer volume (even after a 49% pullback month-over-month). Single names include on-chain representations of TSLA, NVDA, SPY, COIN and more.
Related: What are tokenized stocks? Explained
A standout is Exodus (EXOD)—fully tokenized public equity—showing $226.6M of tokenized value on Algorand via Securitize/transfer-agent rails.
Network-level data also show tokenization clustering on Solana (92 RWA assets; stablecoin market cap $11.5B), reinforcing that 24/7 on-chain settlement is becoming normal for traditional exposures.