AAVE Price Jumps as Coinbase Tokenized Stocks Go Live as Collateral on Aave V4 Base
Key Takeaways
- •Aave's new Equities Hub on Aave V4, deployed on Base, allows users to deposit tokens tied to Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla shares as collateral to borrow USDC.
- •The market caps USDC supply at $32 million and borrowing at $21 million, with per-stock borrowing limits spanning from 65% for Meta and Tesla to 79% for Microsoft.
- •The tokenized stocks, issued by Coinbase Onchain SPV Ltd. with underlying shares held in segregated custody by Alpaca Securities, are offered only to eligible users outside the United States.
- •The Base deployment still requires governance approval through an offchain Snapshot vote followed by an onchain vote before the market becomes fully active.
- •AAVE climbed more than 7% following the launch, trading near $147 and up roughly 13% over the past seven days.
Aave has launched a new lending market on Base that lets users borrow USDC, a U.S. dollar stablecoin, against seven Coinbase tokenized stocks. The move pushed AAVE's price up more than 7%, with the token trading near $146 to $147 as of the latest session.
The new market, called the Equities Hub, runs on Aave V4 and accepts tokens tied to Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla shares. Users can deposit these tokens as collateral and borrow USDC, keeping their exposure to the underlying stocks while gaining access to dollar liquidity without selling their share-backed positions. The integration brings Coinbase's tokenized equities into Aave's lending infrastructure on Base, the Ethereum layer-2 network developed by Coinbase, where the tokenized stock lineup itself arrived earlier this year.
Coinbase Tokenized Stocks are live on Aave V4 on @base . Tokenized stocks are only available in eligible jurisdictions outside of the U.S. pic.twitter.com/VOL363Ihd9 — Aave (@aave) September 25, 2026
Coinbase Onchain SPV Ltd. issues the tokens. Alpaca Securities holds the real shares in segregated custody accounts, giving holders a claim tied to actual equities rather than a simple price tracker.
How the Lending Market Works
USDC is the only asset that can be borrowed in this market. Stock tokens cannot be borrowed, and one stock token cannot be used to borrow another. The structure makes stock tokens function exclusively as collateral within the hub.
Each stock carries its own borrowing limit, which sets the maximum share of a token's value that can be financed with borrowed USDC. Microsoft has the highest at 79%, while Meta and Tesla sit at the lower end at 65%. Apple, Alphabet, Amazon, and Nvidia fall between those levels. Aave set a $32 million cap on the USDC that can be supplied to the market and a $21 million cap on the USDC that can be borrowed. Risk provider LlamaRisk placed the combined stock collateral cap near $29 million; together, these caps set the market's overall size limits.
LATEST: ⚡️ Aave added seven Coinbase tokenized US stocks, including AAPL, TSLA, and NVDA, as collateral on its V4 market on Base, letting eligible non-US users borrow USDC against them. pic.twitter.com/Bwyr0ln2py — CoinMarketCap (@CoinMarketCap) September 25, 2026
Chainlink supplies the price feeds for the tokenized stocks. The feeds update on a 24/5 schedule matching regular stock market hours and hold their last price during weekends and holidays. This means the lending market itself runs non-stop: users can supply, borrow, repay, and withdraw at any time, but collateral prices only refresh while the underlying stock market is open.
Availability and Wider Rollout
The tokenized stock products are not available to U.S. investors. Coinbase issues them through an Abu Dhabi-based entity, and they are offered only to eligible users outside the United States. The restriction mirrors the terms of the underlying token offering.
Base Head of Growth Antonio García-Martínez said eligible non-U.S. customers can use the tokens to borrow USDC, while other users can supply USDC to earn interest.
Aave Labs CEO Stani Kulechov commented on the shift in what these tokens can do following the launch. "Until now a tokenized stock was something you could hold or trade. Today it becomes something you can borrow against," he said.
The Base deployment still requires governance approval. Aave's proposal process calls for an offchain Snapshot vote followed by an onchain vote before the market becomes fully active, making that two-stage vote the next milestone to watch for the Equities Hub.
Coinbase's tokenized stock lineup arrived on Base earlier this year, launching with four tokens in August and expanding to ten tokens by September, all tied to major U.S. technology companies. Aave is also working on a separate tokenized-asset market on Avalanche, announced on September 16, where institutions would borrow Tether's USA₮ against tokenized real-world assets. Taken together, the two efforts extend Aave's lending markets beyond crypto-native collateral and into tokenized traditional.
Market Performance
On the daily chart, AAVE reached $150.14 during the session before settling near $147.41. The token is up roughly 13% over the past seven days and about 25% over the past 30 days. It trades above its Supertrend line at $117.29, with resistance marked at $155.43 and support at $134.56.
