Coinbase Tokenized Stocks Live, Lending Remains Ahead
Coinbase has launched tokenized stocks on its Base platform, in partnership with Chainlink. The initial four stocks are linked to Apple, Alphabet, Meta, and Nvidia, and trading is available through 1inch. However, lending to millions of users remains a future step, as Aave's deployment is still in the governance and risk-configuration process.
The tokens trade continuously, but Chainlink's oracle feeds are classified as 24/5, meaning they hold the last close value when the underlying market is closed. This timing gap can lead to stale prices during weekends and holidays.
Coinbase describes the products as beneficial claims on real shares held in a regulated trust structure, with holders having a direct senior claim on the underlying equity. However, one token does not permanently equal one share, as dividends are reinvested into additional shares and corporate actions can alter the ratio.