Coinbase adds six tokenized stocks after $228M debut
Coinbase has expanded its tokenized equity offerings on the Base blockchain by adding six new assets, including Amazon, Microsoft, Tesla, and SpaceX, bringing the total lineup to 10. This expansion follows a successful initial launch that generated $227.7 million in decentralized exchange volume within its first 30 days. The tokens, issued by Coinbase Onchain SPV Ltd. under the B20 standard, represent beneficial interests in underlying shares held in bankruptcy-remote custody. By leveraging the Ethereum layer-2 network, these assets allow eligible non-U.S. investors to trade equities outside of traditional market hours and integrate them into decentralized finance protocols like Aave and Aerodrome. The initiative highlights the growing institutional push to bridge traditional financial assets with onchain infrastructure, enabling 24/7 liquidity and composability. While the tokens provide exposure to major U.S. tech firms and private entities like SpaceX, they are restricted to non-U.S. persons under Regulation S. This development underscores the increasing utility of tokenized stocks as collateral and investment vehicles within the broader DeFi ecosystem.
- Coinbase added six tokenized equities to Base, reaching 10 total assets.
- Initial tokenized stock offerings generated $227.7 million in DEX volume in 30 days.
- Tokens utilize the B20 standard and are restricted to non-U.S. investors via Regulation S.
- Assets are integrated into DeFi protocols like Aave for lending and collateral use.
Coinbase's tokenized stock program uses a special purpose vehicle (SPV) structure to issue tokens that represent a beneficial interest in real-world shares. These tokens are backed by actual equities held in regulated, segregated custody, allowing them to function as onchain proxies for traditional stocks. By utilizing the B20 standard on the Base network, these assets can be traded on decentralized exchanges and utilized within various DeFi applications.