Coinbase Launches Tokenized US Stocks on Base With Chainlink Price Feeds

Coinbase has officially launched tokenized US stock trading on its Base layer-2 blockchain.

Cointelegraph reported on August 24 that Coinbase began offering tokenized shares of major US-listed companies including Nvidia, Apple, Meta and Alphabet for trading on the Base network. The service is available to eligible users outside the US.

The tokenized stocks are issued as B20 tokens on Base. Alpaca, a regulated broker and custodian operating under the Abu Dhabi Global Market regulatory framework, holds the underlying shares. Each token represents a direct claim on the corresponding stock. Users can keep the tokens in self-custody wallets or trade them 24 hours a day.

Coinbase also integrated Chainlink price feeds so the assets can be used across the decentralized finance, or DeFi, ecosystem. Chainlink’s data feeds provide real-time pricing for the tokenized stocks. According to Chainlink documentation, each token price is calculated by applying a Coinbase-provided multiplier to the underlying stock price to reflect dividends and corporate actions. That allows DeFi protocols to use the assets as collateral in lending markets, decentralized exchanges and structured products. Base cited use cases including using tokenized Nvidia shares as collateral on Aave and supplying tokenized Apple shares to decentralized exchanges.

The broader tokenized equities market is also growing. Data from RWA.xyz showed the total value of tokenized stocks at about $2.48 billion, up 5.2% over the past 30 days. Monthly transfer volume reached $27.28 billion, and the number of holders exceeded 2.1 million. Coinbase plans to launch additional tokenized stocks on Base in the coming weeks.