Coinbase Deploys Tokenized Stocks On Base Platform
Coinbase has launched tokenized US equities on its Base platform, allowing non-US users to hold four technology stocks as transferable tokens in a self-custodial wallet. The assets are Nvidia (NVDAc), Meta (METAc), Apple (AAPLc), and Alphabet (GOOGLc).
The tokenized shares were minted with about $4.5 million, and decentralized exchange liquidity reached around $3 million on day one. Chainlink's price feeds run 24/5, while the tokens trade 24/7.
Aerodrome holds the deepest pool for each of the four tokens, with over $957,000 behind NVDAc and between $619,000 and $669,000 behind the others. The Base listings page names about 50 apps supporting the tokens at launch, including Aave, Morpho, and Euler for lending.
Coinbase Onchain SPV Ltd is issuing the assets, running the chain they settle on, and operating one of the venues where they trade. Creation costs 1 basis point of the invested amount, while redemption costs 5 basis points. Dividends carry a 5% distribution fee on gross value before the 30% US withholding rate applied to non-US persons.