COINON is the Ondo Finance tokenised Coinbase stock. In the previous post we were looking at the 3 ways of getting exposure to Coinbase. As Coinbase literally owns the AI Agent payment rails.
The Crypto Bro owns the AI Agent payment rails
The 3 ways were
- buy stock on Nasdaq
- buy Base blockchain native token
- buy the tokenised stock
We opted for the 3rd option.
There were 4 tokenised stock options from the post but there is most likely more.
- COINX - Coinbase xStock
- COINON - Coinbase (Ondo tokenised stock)
- BCOIN - Backed Coinbase Global
- COINB - Coinbase (bStock tokenised stock)
Note:
- bStock is Binance, sorry CZ but you are not on the Christmas Card list.
- Payward the parent company of Kraken partnered with Nasdaq to build xStocks
- as we go to print we have no idea what backed is
- decided to go with COINON cause we like Ondo Finance
Can COINON be withdrawn to self cutody?
Yes and No!!? Mainly No!!!
Like most things there is no simple answer. For those that like clicking links and doing your own research or reading? DeGate gives a comprehensive 11 minute summary.
You Bought Stocks on a Crypto Exchange. Can You Actually Take Them With You?
Buy Stocks on your app can mean 3 different things
- “Stocks” / “Direct stocks” — often a brokerage position in the real share.
- “Tokenized securities” — an on-chain token issued by a third party, tracking a stock.
- “Stock tokens” — depending on the platform, can mean a synthetic contract or an on-chain token.
Only the on-chain token you can take with you, i.e. withdraw to self custody. But there is a big but. It depends on:
- on-chain liquidity
- eligibility/compliance
- entry point
Had to copy this word for word, cause not sure really understood what it was saying:
“Note on the Ondo entry point. The same Ondo token can reach users through two different routes on the same exchange, and those routes give different answers to “can I take it off the platform?” Through a non-custodial wallet such as Binance Wallet, the token is traded from the user’s wallet and held in a wallet they control, so it may move on-chain, subject to eligibility and compliance conditions. Through a platform-internal account such as Binance Alpha, the token is held inside that account rather than landing in the user’s own wallet. So with Ondo, portability is decided not only by what the token is, but also by the account or wallet route through which the user holds it.”
WEEX or LBank?
As previously discussed we are trialling the two non kyc exchanges for Dust Conversion purposes. So a simple test is to see whether the two exchanges
- list COINON and
- do they allow withdrawal
WEEX: yes, no
LBank: yes, yes
We have a 0.16 LTC pending withdrawal from free-ltc.com to LBank. Will use that as a trial payment, if and when the LTC turns up.
DISCLAIMER: I promise no AI was harmed in the researching, editing and publishing of this. But lots of CO2 was produced, doing my bit to make planet earth green.
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