Stablecoin Bill Launches Coinbase 27%, Potentially Impacting the Payments Industry

Coinbase stock was up 27%, going from $242 to $308 per share.

The catalyst was the passage of the Stablecoin bill, as Coinbase plans to incorporate stock trading into its business model.

If legislation is approved, it would compete with Charles Schwab Corp. and other companies offering stock trading services and expand beyond cryptocurrencies.

Tokenizing equities is a process in which shares of a company are converted into a digital token, similar to how cryptocurrencies are traded.

The legislation will not only impact trading, it could also transform the payments industry and impact the banking industry.