Base launches carry trade vaults for Coinbase tokenized stocks
Coinbase recently launched its tokenized stock product on the Base blockchain, utilizing the B20 token standard to represent 1:1 claims on U.S. equities held by Alpaca. Within two days of the August 24, 2026 launch, third-party protocols including 628 Labs, Superform, IPOR, and Portals introduced yield-generating carry trade vaults. These vaults allow users to leverage tokenized shares of Apple, Nvidia, Meta, and Alphabet by using them as collateral for stablecoin borrowing. The integration of Chainlink price feeds ensures the reliable valuation necessary for lending protocols like Aave and Euler to function securely. On its first day, the ecosystem saw $4.55 million in minted tokens and $10.8 million in trading volume. This development marks a significant shift in the RWA market, as Coinbase’s status as a regulated U.S. entity provides institutional credibility previously lacking in offshore tokenized equity experiments. Furthermore, the 24/7 nature of B20 tokens enables continuous management of equity positions, bypassing the limitations of traditional market hours.
- ▸Coinbase launched B20 tokenized stocks on Base, representing 1:1 claims on U.S. equities.
- ▸Launch day metrics included $4.55 million in minted tokens and $10.8 million in volume.
- ▸Protocols like Superform and IPOR launched yield vaults for AAPLc, NVDAc, METAc, and GOOGLc.
- ▸Chainlink oracles provide real-time price feeds to support secure DeFi lending and liquidation.
Coinbase is a publicly traded, regulated U.S. crypto exchange and broker-dealer. The B20 standard is a new infrastructure designed to allow real-world assets, specifically equities, to interact seamlessly with existing DeFi protocols without requiring custom smart contract development for each asset.