Coinbase Launches Tokenized Stocks on Ethereum L2 Base
What happened: Coinbase debuted tokenized stocks for non-U.
What happened: Coinbase debuted tokenized stocks for non-U.S. users on its Ethereum Layer-2 network, Base. The initial offering includes Apple, Nvidia, Meta, and Alphabet, with shares held 1:1 by regulated custodian Alpaca. The tokens, using Coinbase's B20 standard, allow for 24/7 trading, direct dividend distribution, and use as DeFi collateral. Chainlink provides price feeds, and trading is available on Aerodrome and Aave.
Why it matters: This move brings traditional equities on-chain, enabling global, round-the-clock access and composability with DeFi. By offering actual share-backed tokens (not derivatives), Coinbase aims to bridge regulated finance and crypto-native infrastructure. U.S. users remain excluded due to regulatory constraints, but the launch intensifies competition in the tokenized equity space.