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Coinbase has launched tokenized U.S. stocks on Base, its Ethereum Layer 2 network, allowing eligible users outside the United States to hold and trade blockchain-based representations of public equities. The initial lineup includes Apple, Nvidia, Meta and Alphabet shares under the tickers AAPLc, NVDAc, METAc and GOOGLc.
Each token is designed to be backed 1:1 by an underlying share held in regulated custody, with holders receiving a beneficial claim on that share. Coinbase issues the assets using its B20 token standard, allowing holders to keep them in self-custody wallets and use them across supported decentralized finance applications on Base.
Tokenized Shares Are Backed 1:1
The underlying shares are held by regulated broker and custodian Alpaca in a bankruptcy-remote structure under the Abu Dhabi Global Market regulatory framework. Base says token holders receive a beneficial claim on the corresponding underlying share rather than synthetic price exposure. The project said Coinbase Tokenized Stocks are available only to eligible users outside the U.S. Base said:
“If you hold the token, you hold a direct claim on the share.”
Tokenized Stocks Can Trade Outside Market Hours
The B20 tokens can be transferred and traded on supported decentralized markets outside traditional U.S. market hours. Base says supported assets can also be integrated into DeFi applications such as lending markets.
B20 extends the ERC-20 standard and includes mechanisms for handling corporate actions such as dividends and stock splits. Base says these adjustments can be reflected through an onchain multiplier without changing token balances, which is intended to reduce disruption for supported DeFi integrations.
Chainlink Provides Stock Price Data
Coinbase has selected Chainlink as the official oracle infrastructure for the tokenized stocks. Chainlink Data Feeds provide pricing information for AAPLc, NVDAc, METAc and GOOGLc, allowing lending markets, decentralized exchanges and other applications to integrate the assets.
Coinbase plans to add more tokenized stocks and other real-world assets to Base in the coming weeks. Access remains dependent on jurisdiction and applicable eligibility requirements, with the products currently unavailable to U.S. users.
