Coinbase has launched tokenized stocks on Base, using Chainlink price feeds to provide onchain pricing for equities including Apple, Nvidia, Meta, and Alphabet. The rollout is available only to eligible users outside the United States and relies on offshore custody arrangements that critics say complicate the case for frictionless equity access.

Coinbase launches tokenized stocks on Base

On August 24, 2026, Coinbase selected Chainlink as the official oracle infrastructure for its newly launched tokenized stocks on Base, according to the company’s announcement. The product is being issued as B20 tokens on Base, Coinbase’s Ethereum layer-2 network, which launched in 2023 and is built using Optimism’s OP Stack. For related coverage, see Ripple Coinbase PAC Florida Race: $2M Spend.

The initial set includes NVDAc, METAc, AAPLc, and GOOGLc, with more names planned. Each token uses Chainlink Data Feeds to provide continuous pricing for DeFi applications built on Base. For related coverage, see Sandbox Bridge Hack Mints 14.9B SAND as Coinbase Delists Futures.

The launch builds on earlier Base groundwork, including the Beryl upgrade and the B20 token standard that established the technical format now used for these equities. The rollout also arrives as rivals pursue similar products, including Robinhood, which has launched its own Ethereum layer-2 for tokenized stock trading. The move is part of a wider industry push to bring real-world assets onchain, an area where asset managers such as BlackRock have issued tokenized money market funds and exchanges including Kraken have rolled out tokenized stocks for non-U.S. customers. For related coverage, see Base Targets June 25 Mainnet Launch for Beryl Upgrade and B20 Token Standard.

How Chainlink price feeds handle around-the-clock blockchain trading

Base documentation says Chainlink is the onchain price option at launch for tokenized stocks on Base. Each equity feed operates 24/5, updating throughout the trading week even though the tokens themselves can move on a blockchain that never closes. Chainlink’s Data Feeds are among the most widely used price oracles in DeFi, aggregating data from multiple independent node operators before publishing it onchain.

When markets are closed, the feeds retain the last closing price over weekends and holidays, and they freeze during corporate actions such as splits or dividends. That approach reduces stale-price risk, but it also means off-hours DeFi activity references a static number rather than a live quote.

Chainlink documentation says a B20 token’s price is calculated as the underlying equity’s market price multiplied by a Coinbase-supplied multiplier read from an onchain oracle registry. In other words, the feed does not simply mirror the stock price; it applies a total-return adjustment factor controlled by Coinbase, which accounts for effects such as dividends over time.

LINK, the token that underpins Chainlink’s oracle network, traded at 11.57 USD at the time of the announcement, up about 0.56% over 24 hours, a modest move that suggests traders were not yet pricing in a major revenue catalyst from the deal.

Access limits and custody structure

The product is available only outside the U.S. in eligible jurisdictions. American users are excluded from this rollout, leaving Coinbase’s largest home market out of the launch even as the company promotes the product to DeFi users.

The tokenized stocks are backed 1:1 by underlying shares held in regulated custody with Alpaca under the Abu Dhabi Global Market framework, a financial free zone in the UAE that operates its own financial regulator. CoinDesk reported that the offering begins with Apple, Nvidia, Meta, and Alphabet shares for eligible non-U.S. investors under that Abu Dhabi structure.

Supporters of the product point to composability. Base has roughly $5.5 billion in DeFi total value locked and about $1.4 billion in daily DEX volume, which could allow tokenized equities to function as collateral or trading pairs rather than passive holdings.

The main concern is jurisdictional. A product that excludes U.S. users, depends on offshore custody, and prices assets through a Coinbase-controlled multiplier concentrates trust in a single issuer, echoing concerns raised when platforms such as Binance moved to cease support for selected tokenized stocks. How that balance between onchain utility and centralized dependence develops, including which additional equities follow the initial four names, will help determine whether tokenized equities on Base attract the DeFi users Coinbase is targeting.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.