The proposal would expand Coinbase’s U.S. equity-derivatives lineup beyond thematic stock indexes, while CFTC product approval remains the company’s stated next step.

The fintech says it still needs FDIC, Federal Reserve and final OCC clearances before a planned 2027 launch offering insured deposits, credit and crypto access.

Bank of America, Citi, Goldman Sachs, UBS, Deutsche Bank and 16 other firms said Tuesday they will incorporate a company in the second half of 2026 to issue a dollar stablecoin, with a market launch targeted for the first half of 2027. The announcement did not name the company, its owners, its executives or the blockchain it will use.

The Chiliz Group announced the equity token product on Aug. 27 without naming an issuer. The EU regime the companies say the first offering would run through admits shares only from issuers worth less than €500 million.

The $12.7 billion staked balance was unchanged in four weekly readings, while BitMine added 53,501 ETH and reported $335 million in annualized staking revenue.

The expansion is contingent on new crypto rules taking full effect and the Bank of Russia permitting the assets for public circulation.

The retail platform began rolling out in May, while a separate advisor-channel crypto service is targeted for mid-2027.

Only the Mag7X strategy is active at launch, holding four Coinbase-issued stock tokens; two additional Bitwise models remain marked ‘coming soon.’

Nikita Bier left the role on Aug. 5. No X corporate account has ever announced a trading feature, and Bier said in February that the company is not handling trade execution.

Swift’s ledger matched and netted obligations recorded on the banks’ separate platforms, but final settlement still ran through existing systems.