Coinbase debuts tokenized stocks on Base network, joining race to bring equities on blockchain

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 launched tokenized U.S. stocks on its Base chain, starting with Apple, Nvidia, Meta and Alphabet shares for investors outside the U.S.. - The tokens are backed by underlying shares held by custodian Alpaca and can trade around the clock on eligible onchain venues. - The rollout follows Coinbase's move to establish its international tokenization hub in Abu Dhabi, where regulators recently cleared the company to arrange and custody tokenized securities. Coinbase The rollout starts with some of the biggest names in the U.S. market: Apple (AAPL), Nvidia (NVDA), Meta (META) and Alphabet (GOOGL). The tokens are available to eligible investors outside the U.S. and represent shares held 1:1 with Alpaca, a regulated broker and custodian, according to a Base blog post. The stock tokens are issued under Abu Dhabi Global Market (ADGM) regulation, where Coinbase recently established its international tokenization hub. Coinbase said more stocks will follow the initial batch. The rollout comes as tokenization is gathering steam across asset classes. Banks and asset managers have already moved tens of billions of dollars of U.S. Treasuries, private credit and investment funds onchain, RWA.xyz data shows. The potential market is sizable: Citi has projected that tokenized securities could reach $5.5 trillion by 2030. Tokenizing public stocks is increasingly in the pipeline for companies, with crypto exchanges, fintech firms and traditional market operators exploring ways to enable equities to trade and settle on blockchain networks. Tokenized stocks don't all work the same way, and what sits behind the token and what rights they offer to holders have become an important dividing line as more products hit the market. Coinbase said it issues corresponding tokens on Base using its B20 framework, with each token representing a direct claim on the underlying stock. Institutional market makers buy the shares, which are then held by Alpaca in a bankruptcy-remote structure supervised by ADGM’s financial regulator. Dividends and stock splits are also reflected in the tokens. Once minted, they can move between wallets without a whitelist, according to Coinbase. Investors can hold the tokens in self-custody wallets and trade them around the clock on supported onchain venues, including decentralized exchange Aerodrome. Because they are blockchain-based tokens, they can also plug into decentralized finance applications, potentially allowing investors to borrow against their stocks or use them in other onchain markets. Coinbase tapped Chainlink - 1 - 2 - 3 - 4 - 5 - 6 - 7 - 8 - 9 - 10 Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield. Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield. Why it matters: Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.