Coinbase Tokenized Stocks Soar to $3.4B, NVIDIA Leads Chart
Coinbase Global Inc.'s (NASDAQ:COIN) tokenized stocks have seen significant traction, according to CEO Brian Armstrong. The tokenized versions of top companies such as NVIDIA Corp. (NASDAQ:NVDA), Apple Inc. (NASDAQ:AAPL), and Tesla Inc. (NASDAQ:TSLA) have attracted 46,700 holders, with a total value of $3.4 billion. This is just one month after the launch, which allows eligible users outside the U.S. to hold tokenized stocks on the Base blockchain.
The key differentiator here is that these tokens can be used as collateral for on-chain loans, unlike traditional stocks. Armstrong emphasized that this is just the beginning of Coinbase's ambitions in tokenization, with plans to extend it to private companies, Treasuries, and investment funds. The SEC has also provided a temporary regulatory pathway for trading tokenized U.S. stocks.
The growth of these tokenized stocks has been impressive, with holders seeing a 9,697% increase in value over the past month. The monthly volume has reached $70 billion, according to Token Terminal. Armstrong's comments highlight the potential of this new financial instrument, which could provide greater flexibility and accessibility for investors.