Coinbase debuts tokenized stocks on Base network, joining race to bring equities on blockchain
The crypto exchange is starting with tokenized versions of Apple, Nvidia, Meta and Alphabet, issued under its new Abu Dhabi framework.
Coinbase has launched tokenized stocks on the Base blockchain, with Chainlink's price feeds providing continuous data to support their use in decentralized finance (DeFi) applications. Users in eligible non-US jurisdictions can trade stocks like Apple, Nvidia, Meta, and Alphabet 24/7 using tokenized B20 tokens on Coinbase's layer-2 blockchain.
Chainlink's data feeds value each token based on the underlying stock price and a Coinbase-supplied multiplier that accounts for dividends and corporate actions. These stocks can be integrated into DeFi protocols, used as collateral for borrowing, and held in self-custody wallets. The total value of tokenized stocks has reached $2.48 billion, with monthly transfer volume at $27.28 billion and over 2.1 million holders, according to RWA.xyz data.
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