Coinbase has significantly expanded its tokenized equity offerings by adding six new stocks to Base, bringing the total lineup to 10 tokens. According to reports from Base, the new additions include Amazon (AMZNc), Microsoft (MSFTc), Strategy (MSTRc), SanDisk (SNDKc), SpaceX (SPCXc), and Tesla (TSLAc). The expansion follows Coinbase's initial launch on August 24 with tokens for Apple, Alphabet, Meta, and Nvidia, using Base's B20 standard. These tokenized securities represent beneficial interests in shares held through regulated custody, with Coinbase Onchain SPV Ltd. issuing matching tokens against each underlying share from the Abu Dhabi Global Market.
The tokenized stock products have demonstrated robust market demand, generating ₹18,700 crore ($227.7 million) in decentralized exchange volume within approximately 30 days of the initial launch. As reported by Token Terminal, daily DEX activity peaked at ₹2,900 crore ($33 million) during this period. The performance data shows continued growth momentum, with earlier figures from Token Terminal indicating cumulative volume of ₹1,248 crore ($124.8 million) at the time of the first expansion. The tokenized-stock sector was already experiencing significant growth before Coinbase's additions, with monthly transfers climbing 415% to ₹2,36,000 crore ($29.5 billion) in late August.
The tokenized stocks provide eligible investors with 24/7 trading access across supported applications on the Ethereum layer-2 network, allowing trading outside regular Nasdaq or New York Stock Exchange hours. According to Coinbase, the tokens can connect with decentralized finance applications including Aerodrome for trading liquidity, Aave, Morpho, and Euler for lending functions, and other platforms like 0x, 1inch, KyberSwap, and CoW Swap. Chainlink provides price information to help applications track token value changes, enabling users to use tokens as collateral in compatible lending markets. However, U.S. persons remain unable to access the products under Coinbase's current Regulation S offering structure.
The tokenized stocks operate under Regulation S, an SEC exemption for qualifying securities transactions conducted outside the United States, as reported by Coinbase. Alpaca Securities serves as the broker and custodian for public equities, registered with the U.S. Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority and Securities Investor Protection Corporation. Verified redemptions carry a 0.05% fee and may face delays due to compliance checks, with the final amount potentially differing from the submitted value. American customers can access conventional stocks through Coinbase Capital Markets, though this is separate from the B20 assets on Base.
