Coinbase Launches Tokenized Stocks on Ethereum L2 Base
What happened: Coinbase has launched tokenized versions of major U.
What happened: Coinbase has launched tokenized versions of major U.S. stocks—including AAPL, NVDA, META, and GOOGL—on its Ethereum Layer 2 network, Base. Each token represents a 1:1 claim on real shares held by regulated custodian Alpaca, under the supervision of Abu Dhabi Global Market (ADGM). The service is available to eligible users outside the U.S., with roughly 50 DeFi apps supporting the tokens at launch.
Why it matters: The move positions Coinbase at the forefront of the tokenized equities race, joining Kraken and Binance in bridging traditional finance and DeFi. By enabling composable, onchain trading and dividend distribution, Coinbase is testing the regulatory and technical boundaries of securities on blockchain. U.S. residents remain excluded, reflecting ongoing legal uncertainty, but the launch could accelerate global adoption of tokenized assets.