Coinbase has introduced tokenized versions of major U.S. equities on its Base blockchain, marking a significant expansion of onchain access to traditional stocks. The products became available on Monday for eligible non-U.S. investors in approved jurisdictions.

The initial lineup features tokenized shares of Apple, Nvidia, Meta and Alphabet. Issued under Coinbase’s B20 token standard natively on Base, each token represents a direct one-to-one claim on an underlying share. Institutional market makers purchase the shares, which are then held by regulated broker and custodian Alpaca in a bankruptcy-remote structure overseen by the Abu Dhabi Global Market financial regulator.

Structure and Ownership Rights

Holders of the tokens obtain a direct beneficial claim on the corresponding shares rather than exposure through a synthetic or derivative product. The tokens can be stored in self-custody wallets and transferred freely without wallet whitelisting once minted. Availability is limited to non-U.S. users meeting jurisdictional and identity requirements, with access controlled at the application level.

The B20 standard is designed to manage corporate actions such as dividends and stock splits through an onchain multiplier. This approach keeps token balances unchanged and prevents disruption to positions held in decentralized finance protocols.

Trading, Liquidity and DeFi Integration

Unlike conventional equities limited to traditional market hours, the tokenized stocks trade continuously through automated market maker pools on Base. Liquidity is available on decentralized exchange Aerodrome, allowing users to react to earnings announcements, macroeconomic developments or weekend news without waiting for exchange opening times.

The assets are composable with existing Base DeFi infrastructure. Tokenized Nvidia shares, for example, can serve as collateral for loans on Aave, while Apple tokens can be supplied to decentralized exchanges or incorporated into liquidity pools, automated portfolios, indexes and structured products.

To support these uses, Chainlink Data Feeds deliver continuous pricing. Each feed calculates value from the underlying stock price combined with a Coinbase-supplied multiplier that accounts for dividends and other corporate actions. This data enables lending markets, exchanges and other applications to integrate the tokens reliably.

Broader Context and Next Steps

The launch positions Coinbase alongside other platforms that have already brought equities onchain. The overall market for tokenized stocks has grown to approximately $2.48 billion, with monthly transfer volumes reaching $27.28 billion and more than 2.1 million holders, according to recent industry data.

Coinbase established its international tokenization operations in Abu Dhabi, where regulators authorized the company to arrange and custody tokenized securities. Additional Coinbase-issued stocks are scheduled to arrive on Base in the coming weeks, with further real-world assets expected to follow.

Builders on the network can already incorporate the tokens into new products, including applications that combine equities with stablecoins for borrowing, yield strategies or agent-based trading systems. The tokens function as standard B20 assets compatible with existing wallets, routers and protocols on Base.