That's my understanding as well; Coinbase does sell Toncoin, for example. 1 TON ...

katsura · on Dec 7, 2022

> Toncoin is not supported by Coinbase.

Source: https://www.coinbase.com/price/toncoin

pizza234 · on Dec 7, 2022

Right! Google in this case is, interestingly, wrong (or precisely, very misleading) in their QA:

  Does Coinbase have TON?
  Buy TON Token with Coinbase Wallet
  TON Token is only available through Coinbase Wallet. Assets on Coinbase Wallet are not held by Coinbase.

For reference, the list of exchanges is here: https://ton.app/exchanges.