Coinbase Tokenizes US Stocks on Base Layer-2 Network

Coinbase has launched four tokenized US stock products on its Base layer-2 network. These products are available to eligible non-US investors and offer around-the-clock exposure to Apple, NVIDIA, Meta, and Alphabet.

The initial list includes NVIDIA under the ticker NVDAc, Meta as METAc, Apple as AAPLc, and Alphabet as GOOGLc. Each token represents a beneficial interest in an underlying share rather than a synthetic contract that tracks its price.

Coinbase Onchain SPV Ltd., a Coinbase-controlled company incorporated in the Abu Dhabi Global Market, formally issues these securities. The Financial Services Regulatory Authority approved the NVIDIA prospectus on August 4 under ADGM rules.

For every token issued, the special-purpose vehicle holds one corresponding share through a segregated custody account managed by Alpaca Securities. This structure offers beneficial exposure rather than direct registration as the legal owner of each share.