Coinbase announced that tokenized stocks are now live on Base, its Ethereum layer‑2 network, for eligible users outside the United States.
Initial offering
The first tokens represent fractional shares of Apple and Nvidia. Each token corresponds to a share held by Alpaca, a regulated broker‑custodian, giving holders a direct claim on the underlying equity rather than a derivative.
Use cases and infrastructure
Token holders can keep the assets in self‑custody wallets, trade them on the Aerodrome automated market maker, or use them as collateral on the Aave lending protocol. The tokens also support liquidity pools, automated portfolios, indexes and derivatives.
Coinbase employs its B20 token standard, which automatically processes dividends and stock splits without altering token balances or affecting DeFi positions.
Regulatory and availability notes
Access to the tokenized stocks varies by jurisdiction and may require identity verification. The rollout follows Coinbase’s June announcement of 1:1 backed tokenized equities, originally slated for non‑U.S. users in July.
Industry context
The launch follows a broader trend of crypto platforms bringing traditional equities on‑chain; Robinhood introduced its own layer‑2 network with tokenized stocks last month.
Base indicated that additional Coinbase‑issued stocks and other real‑world assets will be added in the coming weeks.
