Coinbase Launches Tokenized Stocks on Base, Starting With Apple and Nvidia
Coinbase has begun issuing 1:1-backed tokenized versions of Apple, Nvidia, Meta, and Alphabet shares on its Ethereum Layer 2 network Base, available for eligible non-U.S. investors to trade around the clock. The tokens represent shares held by regulated custodian Alpaca under a framework established in Abu Dhabi.
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Story Updates
- Updated Aug 24, 2026, 10:04 PM: Coinbase confirmed August 25 launch with 1:1 backing; product now live for non-U.S. investors with 24/7 trading.
Tokenized Stocks Now Live on Base
Coinbase has launched tokenized stocks on Base, its Ethereum Layer 2 network, offering blockchain-native versions of four major U.S.-listed companies: Apple, Nvidia, Meta, and Alphabet. The tokens are backed 1:1 by actual shares held by regulated custodian Alpaca, according to a Coinbase announcement on August 25. Eligible non-U.S. investors can now trade these tokens around the clock on Base.
How the Structure Works
Coinbase operates under a framework it established in Abu Dhabi to issue these tokenized securities. The underlying shares are custodied by Alpaca, a regulated entity, rather than held directly on-chain. This structure allows the tokens to be traded on decentralized exchanges and integrated into DeFi protocols running on Base while maintaining regulatory compliance through the custodian. The 1:1 backing ensures each token corresponds to a single share held in custody.
Strategic Positioning
The move places Coinbase alongside other platforms exploring tokenized equities as a way to expand crypto infrastructure into traditional asset classes. By launching on Base rather than mainnet Ethereum, Coinbase keeps transaction costs low and transaction finality fast—key advantages for frequent trading in stocks. The focus on non-U.S. investors positions the product in jurisdictions where regulatory clarity around tokenized securities may be more permissive.
Why It Matters
For Traders
Non-U.S. investors can now access stock exposure 24/7 on Base with lower fees than traditional brokers, though regulatory arbitrage may face eventual headwinds.
For Investors
The live launch with 1:1 backing demonstrates institutional-grade custody infrastructure for tokenized securities, signaling blockchain settlement viability at scale.
For Builders
Base developers can now integrate equity tokens into yield farming and lending protocols, creating new collateral types previously unavailable on Layer 2 networks.
This article is for information only and is not financial advice. Read the full disclaimer.
