Coinbase xStock on TON

Coinbase (COIN), the largest US cryptocurrency exchange and the custodian behind most spot bitcoin ETFs, earning on retail trading fees, on custody and prime brokerage for institutions, on staking, and on its share of the interest USDC reserves earn. It registered in the US rather than offshore, which is why institutions can use it, and in 2021 it became the first major crypto exchange to trade on a US stock market. COINx is a tokenised tracker certificate from Backed Assets (JE) Limited, following the COIN share price on-chain.