Coinbase Unveils Tokenized Stocks on Base Amid Diversification Push

Coinbase has expanded its onchain offerings with the introduction of tokenized stocks on Base. The initial assets are NVDAc, METAc, AAPLc, and GOOGLc, each secured on a one-for-one basis with shares held in regulated custody.

The product's utility has been enhanced, but the tokenized-equity sector remains minor compared to Coinbase's stablecoin presence. Tokenized equities reached $2.3 billion by mid-July, while Coinbase offerings averaged around $20 billion in USDC throughout the second quarter.

Coinbase Global, Inc.'s NASDAQ listing and its CEO Brian Armstrong have emphasized the company's diversification beyond Bitcoin spot trading. The introduction of tokenized stocks aligns with this strategy, though details on their economics have not yet been disclosed.