Coinbase Tokenizes US Stocks, But Sec Exemption Stalled in Washington
Coinbase has launched tokenized U.S. equities on the Base blockchain, making it possible for investors to buy and sell shares of popular stocks like NVDAc, METAc, and TSLA in a decentralized manner.
The exchange issued 13 tokens, each representing a direct claim on the underlying share, not a synthetic derivative. This product is live, but the U.S. regulatory framework that would have made this possible domestically is still stuck in political gridlock.
Coinbase secured its Financial Services Permission from the Abu Dhabi Global Market's Financial Services Regulatory Authority on August 11, establishing an international tokenization hub under ADGM's framework.
The tokens are issued under the B20 standard and are backed by a regulated broker-custodian, Alpaca Securities. Pricing runs through Chainlink Data Feeds, which report Total Return Values that account for dividends.