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Coinbase launches tokenized U.S. stocks on Base for eligible non-U.S. investors
The tokenized shares are backed 1:1 by underlying Apple, Nvidia, Meta, and Alphabet stock held by custodian Alpaca and can trade around the clock on eligible onchain venues.
Coinbase has launched tokenized U.S. stocks on its Base blockchain, targeting investors outside the United States. The initial lineup includes shares of Apple, Nvidia, Meta, and Alphabet, with the tokens designed to represent exposure to those specific equities.
According to CoinDesk, the tokenized stocks are backed by underlying shares held by Alpaca, a regulated broker and custodian, and are structured to be held in a bankruptcy remote setup supervised under Abu Dhabi Global Market regulation. The company also said the tokens can trade around the clock on eligible onchain venues.
Coinbase said each token represents a direct claim on the underlying stock issued using its B20 framework, and that corporate actions such as dividends and stock splits are reflected in the tokens. The rollout comes after Coinbase set up an international tokenization hub in Abu Dhabi, where regulators cleared the company to arrange and custody tokenized securities.
The move underscores growing interest in tokenization across asset classes, with CoinDesk citing data that banks and asset managers have already moved tens of billions of dollars of U.S. Treasuries, private credit, and investment funds onchain. CoinDesk also notes Citi projections that tokenized securities could reach $5.5 trillion by 2030.