Coinbase's Tokenized Stocks Surge to $124M in Trading Volume on Base Layer-2 Blockchain
Coinbase's tokenized stock experiment has gotten its first real test and the results are hard to ignore. Within four days of launching on the Base layer-2 blockchain, tokenized versions of major tech stocks racked up $124.8 million in decentralized exchange trading volume.
The tokenized stocks were introduced by Coinbase on August 24 and include NVDAc (NVIDIA), GOOGLc (Alphabet), AAPLc (Apple), and METAc (Meta). Each token is backed 1:1 by real shares held in bankruptcy-remote custody through Alpaca, a brokerage infrastructure provider regulated by Abu Dhabi Global Market's financial authority.
The tokens use the new B20 standard, which maintains ERC-20 compatibility while enabling seamless DeFi integration. Chainlink oracles handle the pricing feeds, connecting real-world stock prices to on-chain activity.