Coinbase Tokenized Stocks Go Live on Base's Ethereum Layer-2 Network

Coinbase has expanded its tokenized stock offerings to Base's Ethereum layer-2 network, allowing non-U.S. investors to trade exposure to Apple, NVIDIA, Meta, and Alphabet around the clock.

The initial list includes NVIDIA (NVDAc), Meta (METAc), Apple (AAPLc), and Alphabet (GOOGLc) tokens, each with a 1:1 backing ratio. Each token represents a beneficial interest in an underlying share rather than a synthetic contract, as stated in the prospectus.

These tokens are issued by Coinbase Onchain SPV Ltd., a Coinbase-controlled company incorporated in the Abu Dhabi Global Market. Alpaca Securities acts as the broker and custodian responsible for buying, selling, and holding the underlying equities.

The B20 framework allows tokenholders to interact with supported decentralized applications, such as Aerodrome for liquidity and Aave, Morpho, and Euler for lending and borrowing functions.