Coinbase rolled out tokenized US stocks on its Base layer-2 blockchain Monday, enabling holders to trade equities 24/7 and use them as collateral across decentralized finance applications. The launch pairs tokenized versions of Apple, Nvidia, Meta, and Alphabet with Chainlink Data Feeds, which supply real-time price information to support DeFi integration.
B20 tokens represent direct claims on underlying shares held with Alpaca, a regulated broker and custodian supervised by Abu Dhabi Global Market. Chainlink oracles value each token using the underlying stock price combined with a Coinbase-supplied multiplier that accounts for dividends and corporate actions. The tokens are available to non-US users in eligible jurisdictions and can be held in self-custody wallets.
The tokenized stocks market has grown to $2.48 billion in total value, expanding 5.2% over the past 30 days. Monthly transfer volume reached $27.28 billion, with 2.1 million tokenized stock holders participating in the ecosystem.
DeFi Use Cases and Market Structure
Tokenized stocks on Base can be supplied to decentralized exchanges or used as collateral for loans on Aave, the leading lending protocol. This integration removes traditional market hours constraints and allows users to compose equity exposure with other on-chain assets in a single transaction.
Coinbase did not specify which additional tokenized stocks will launch in coming weeks, though the company indicated more equities are expected to reach Base in the near term. The exchange also did not disclose which non-US jurisdictions qualify for access to the tokens.
Chainlink Integration and Price Feeds
Chainlink Data Feeds continuously update token valuations based on live equity prices, enabling automated liquidations, yield calculations, and collateral assessments across DeFi protocols. The oracle provider did not disclose fee structure or commercial terms for the integration.
The tokenized equities structure mirrors how real-world assets are being bridged onto blockchain networks, with custody and regulatory oversight anchored to traditional financial infrastructure. Alpaca’s role as custodian ensures underlying shares are held in regulated accounts, while the Abu Dhabi Global Market framework provides supervisory oversight.
