Philip Morris International (Coinbase Tokenized Stock)PMc
Philip Morris International (Coinbase Tokenized Stock) (PMc) is a tokenized share of PM issued by Coinbase through Coinbase Onchain SPV Ltd and distributed through Onchain Marketplace Ltd with Alpaca Securities LLC as broker. The underlying security is listed in the consumer staples sector in North America. Each token represents one underlying share, entitles holders to dividends, which are reinvested into the token, and carries voting rights. The underlying shares are held by Alpaca in segregated accounts within a bankruptcy-remote structure, with Onchain Marketplace Ltd as transfer agent and Deloitte & Touche (M.E.) LLP as auditor. Institutions worldwide can mint and redeem directly with Coinbase in PM shares, USD, and USDC after completing KYC. Residents of the United States cannot mint or redeem with Coinbase. Coinbase Onchain SPV Ltd is offered under an SEC Regulation S exemption, is regulated in Abu Dhabi's ADGM, and is supervised by the Abu Dhabi Global Market Financial Services Regulatory Authority. Holder terms are governed by the law of the United Arab Emirates. PMc has been issued on Base as a B20 token since September 2026.