Coinbase Launches Tokenized Stocks on Base: Apple and NVIDIA Shares Move Onchain

Tokenized stocks issued by Coinbase have officially launched natively on Base, marking a significant shift in how traditional equities interact with decentralized finance. For fintech professionals, this represents the migration of blue-chip assets into a 24/7, programmable environment, potentially bridging the gap between institutional brokerage and onchain liquidity.

What was announced

The launch introduces Coinbase Tokenized Stocks to the Base network, built on the B20 standard. These digital assets represent real shares of major corporations, including Apple and NVIDIA, which are now available as fractional, tokenized units. Unlike synthetic derivatives, these tokens are backed 1:1 by underlying shares held by a regulated custodian. The infrastructure allows users to hold these equities directly in self-custody wallets, moving them beyond the silos of traditional brokerage accounts.

The operational framework involves institutional market makers acting as authorized participants to purchase the physical shares. These assets are then held by Alpaca, a regulated broker and custodian, within a bankruptcy-remote structure. This arrangement is supervised by the Abu Dhabi Global Market (ADGM) regulatory authority, ensuring that token holders maintain a direct claim on the underlying shares. By bringing these assets to Base, Coinbase enables them to be utilized within the broader DeFi ecosystem, including accessing liquidity on Aerodrome. The initiative aims to provide global access and 24/7 trading capabilities that are currently unavailable through traditional market hours and infrastructure. Further tokenized stocks and other real-world assets are scheduled to be introduced to the network in the coming weeks.

"Base exists to bring the world's economy onchain: a new financial system where any asset can be traded, borrowed against, and available globally, 24/7. Today, we took a big step towards that vision as tokenized stocks issued by Coinbase, built on the B20 standard, are now live natively on Base. These are real shares, held 1:1 by a regulated custodian, owned outright by whoever holds the token."

Coinbase

The companies involved

Coinbase is a leading global cryptocurrency exchange and infrastructure provider, known for its suite of retail and institutional digital asset services. The company developed Base, an Ethereum Layer 2 network designed to provide a secure, low-cost environment for developers to build decentralized applications. Base serves as the primary venue for this new tokenization initiative, leveraging its existing user base and liquidity pools.

Alpaca serves as the regulated broker and custodian for the underlying equities. The firm specializes in providing API-first stock and crypto trading services, enabling fintechs to integrate brokerage capabilities into their own platforms. The regulatory oversight for this specific tokenization structure is provided by the Abu Dhabi Global Market (ADGM), an international financial centre in the capital of the United Arab Emirates. ADGM is recognized for its comprehensive regulatory framework regarding digital assets. Aerodrome, a central liquidity hub on the Base network, provides the decentralized trading infrastructure where these tokenized assets can be swapped and utilized within the DeFi market. The underlying assets include shares of Apple, the consumer electronics giant, and NVIDIA, the dominant force in semiconductor and AI hardware manufacturing.

What FF News has reported before

FF News has closely tracked the evolution of the tokenized asset space, previously reporting on Dinari Launches First Tokenized U.S. Stocks for Self-Custody Trading via USDC Partnership, which highlighted the early appetite for bringing 7/24 trading to traditional equities. Our coverage has also touched on the broader institutional shift toward digital assets, such as when the Wyoming Stable Token Commission Migrates to Chainlink CCIP for Enhanced Security to bolster cross-chain infrastructure. Additionally, we reported on regulatory milestones like World Liberty Financial Secures OCC Preliminary Approval for National Trust Bank to Issue USD1 Stablecoin and security advancements in the sector, including the RFI and Safeheron Launch Post-Quantum Cryptography Pilot for Institutional Digital Assets.

What this means

The arrival of native tokenized equities on Base signals a direct challenge to the traditional T+2 settlement cycle and the restricted hours of legacy stock exchanges. By placing household names like Apple and NVIDIA on the same rails as stablecoins and crypto-native assets, the industry is moving toward a unified ledger for all value. This puts immense pressure on traditional brokerages to justify their fee structures and limited accessibility. The primary question for the sector now is whether regulatory bodies in other major jurisdictions will follow the lead of the ADGM in providing clear frameworks for these bankruptcy-remote, onchain structures, or if liquidity will continue to migrate toward offshore hubs that embrace 24/7 composability.