Aave V4 has opened an Equities Hub on the Base network that accepts seven Coinbase-issued tokenized U.S. stocks as collateral for USDC loans. The market is available only to eligible users outside the United States and marks the first time these equity tokens function as borrowing collateral rather than solely as assets for holding or trading.

The supported tokens represent shares of Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla. Users may deposit any combination of the tokens and borrow USDC against them. The equity tokens themselves cannot be borrowed, and positions that borrow one stock token against another are not enabled at launch.

Market Structure and Risk Parameters

The Equities Hub follows Aave’s Hub and Spoke design. All seven collateral assets feed into a single USDC reserve while individual risk parameters remain separate for each stock. This arrangement isolates the equity market’s liquidity and risk from other Aave markets on Base.

Initial limits set by risk assessments include a combined collateral capacity of approximately $29 million across the seven stocks, a $32 million ceiling on USDC supplied to the market, and a $21 million cap on USDC that can be borrowed. Collateral factors range from 65 percent for Meta and Tesla to 79 percent for Microsoft, with intermediate levels assigned to Apple at 78 percent, Alphabet at 76 percent, Amazon at 73 percent and Nvidia at 70 percent.

Chainlink supplies the on-chain price feeds used to value the tokenized equities. The feeds currently publish during U.S. market hours and hold the last reported value over weekends and holidays. Continuous feeds are expected later, after which risk settings may be reviewed.

Kulechov also noted that public equities represent one of the largest pools of capital globally and that tokenization is beginning to move that capital on-chain.

Access Restrictions and Future Plans

Coinbase issues the tokens through an Abu Dhabi-based entity. The products are offered solely to eligible non-U.S. persons and are not registered under U.S. securities laws. The same geographic limits apply to the new lending use case on Aave.

Aave has indicated that additional Coinbase tokenized stocks may be added over time, along with the possibility of making its GHO stablecoin available for borrowing. Any expansion will require further governance votes and risk reviews. Supply and borrow caps are also expected to be adjusted as token supply and market depth increase.

The market operates around the clock for supply, borrow, repayment and withdrawal activity, with temporary pauses only during certain corporate actions such as stock splits until adjusted token parameters are applied.

AAVE Token Price Movement

Following the announcement, the AAVE token traded near $147, registering a gain of roughly 2.4 percent over the preceding 24 hours. Technical levels showed the token trading above a Supertrend indicator near $117, with resistance noted around $155.

The launch expands the utility of tokenized equities within decentralized lending by allowing holders to access USDC liquidity without selling their stock exposure, while keeping the new market’s risks ring-fenced from Aave’s broader Base deployments.