Coinbase Tokenized Stocks Soar to $228M in DEX Trading Volume
Coinbase's tokenized stock experiment has gotten off to a strong start on the Base layer-2 network. In the roughly 30 days since launch, tokenized equities trading have racked up $227.7 million in decentralized exchange volume.
The tokens, which represent 1:1 backed versions of major US equities like Nvidia and Apple, launched on August 24 and immediately attracted aggressive trading activity. In just the first week, DEX volume hit $94.6 million. Nvidia's token alone accounted for roughly 57% of that figure.
The tokens follow Base's B20 standard and are issued at a 1:1 ratio with actual shares held in regulated custody by Alpaca, a brokerage infrastructure provider. These tokens trade 24/7, support fractional ownership, allow self-custody in personal wallets, and plug directly into DeFi protocols.
The growth trajectory of Coinbase's tokenized stocks is telling, with cumulative trading volume crossing $124.8 million shortly after launch. Market capitalization started at about $4.55 million on launch day and surged past $20 million within days.