PANews reported on April 21 that, according to CoinDesk, sources familiar with the matter revealed that Coinbase is collaborating with Bybit to explore the tokenization, custody, and distribution of assets such as pre-IPO and listed stocks in the US. The discussions do not involve Bybit entering the US market through equity acquisitions or other means. Bybit plans to find a local partner to enter the US market, not Coinbase, but a new entity led by former Bybit co-CEO Helen Liu, responsible for licensing and compliance, while Bybit will provide technology, products, and liquidity. The collaboration between Coinbase and Bybit focuses more on a global scale, leveraging Bybit's global influence in Asia and other regions to bring US assets to a wider global user base.