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Coinbase launches tokenized Apple and NVIDIA shares on Base
Coinbase has launched tokenized shares of U.S. companies on the Base network using its new B20 standard. Users outside the U.S. in eligible jurisdictions can hold fractional shares of Apple, NVIDIA, and other companies in their crypto wallets, trade them around the clock and use them in DeFi.
According to the company’s press release, each token is backed 1:1 by a real share held by regulated broker and custodian Alpaca. Coinbase plans to add more stocks in the coming weeks and later expand the offering to other tokenized real-world assets.
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Tokenized stocks use the B20 standard
Coinbase developed B20, an extension of the ERC-20 standard, to enable tokenized stocks to integrate with existing wallets and DeFi protocols. Once issued, the tokens can be freely held, transferred, and used without being tied to the Coinbase platform or a list of approved wallets.
The underlying shares are purchased by institutional market makers and then transferred to Alpaca. The assets are held in a separate structure under the supervision of the Abu Dhabi Global Market regulator.
According to Coinbase, token holders have a direct claim on the corresponding shares.
Dividends and stock splits are reflected through a special on-chain multiplier. The mechanism allows corporate actions to be accounted for without changing the number of tokens held or disrupting existing DeFi positions.
Trading liquidity for the new assets is available through the decentralized exchange Aerodrome. Unlike traditional stock markets, tokenized shares can be traded around the clock, including on weekends.
Stocks can be used in DeFi
Coinbase expects tokenized securities to be used for more than just trading. NVIDIA shares, for example, could be provided as collateral for a loan through Aave, while Apple tokens could be added to a decentralized exchange liquidity pool.
The company also sees these assets as a foundation for automated trading by AI agents. Programmable tokens allow agents to interact with markets autonomously and use stocks across various financial applications.
Base is expanding its offering as the broader tokenization market accelerates. Ondo Finance representatives previously noted that traditional financial companies are gradually changing their attitude toward such products, comparing the current stage of adoption with the early development of exchange-traded funds.
Ondo also expects the passage of the CLARITY Act in the U.S. could open the domestic market to some tokenized products that are currently available only outside the country.
Coinbase previously updated the availability of its products and the structure of its legal entities based on users’ jurisdictions. The changes determine which of the company’s services are available to customers in individual markets.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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