Coinbase Launches B20 Tokenized Stocks on Base With Chainlink Price Data
Key Takeaways
- •Coinbase launched tokenized US equities — including Nvidia, Apple, Meta and Alphabet — on its Base layer-2 blockchain on Monday, paired with Chainlink Data Feeds that provide continuous price data.
- •The oracle-supplied valuations, which combine underlying stock prices with a Coinbase-provided multiplier covering dividends and corporate actions, allow DeFi protocols to use the tokens as collateral and within lending, trading and structured products.
- •Each B20 token represents a claim on an underlying share custodied by regulated broker Alpaca within a structure supervised by Abu Dhabi Global Market.
- •The offering is limited to non-US users in eligible jurisdictions, with US residents excluded as regulations for tokenized securities in the United States remain unsettled, and the tokens can be self-custodied and traded around the clock.
- •The tokenized stock market has reached about $2.48 billion in total value, with $27.28 billion in monthly transfer volume and more than 2.1 million holders, as Coinbase joins Robinhood and Kraken in the space.
Coinbase's tokenized US equities went live on Base on Monday, accompanied by a Chainlink integration that supplies price data to support their use across decentralized finance (DeFi) applications.
Chainlink Data Feeds will deliver continuous pricing for Coinbase's tokenized stocks, which include Nvidia, Apple, Meta and Alphabet. The data allows DeFi protocols to integrate the assets into lending markets, decentralized exchanges and structured products, including as collateral for borrowing. Reliable oracle pricing is a prerequisite for that kind of use: lending markets generally will not accept an asset as collateral without a trusted, continuously updated valuation.
According to Chainlink's documentation, the feeds value each token using the underlying stock price combined with a Coinbase-supplied multiplier that accounts for dividends and corporate actions.
The stocks are issued natively on Base, Coinbase's layer-2 blockchain, as B20 tokens and are available to non-US users in eligible jurisdictions. US users remain excluded — a common feature among tokenized-equity offerings, which have largely launched offshore as US rules for tokenized securities remain unsettled. Each token represents a direct claim on an underlying share held with regulated broker and custodian Alpaca under an Abu Dhabi Global Market-supervised structure, according to Base. The tokens can be held in self-custody wallets and traded around the clock.
Base said the stocks can be integrated with existing DeFi infrastructure — for example, using tokenized Nvidia shares as collateral for loans on Aave, or supplying tokenized Apple shares to decentralized exchanges. Additional Coinbase tokenized stocks are expected to launch on Base in the coming weeks.
The launch comes as the broader market for tokenized equities continues to grow, and as Coinbase joins other major trading platforms that have moved into the space: Robinhood began offering tokenized US stocks to customers in the EU, and Kraken launched its xStocks lineup with Backed Finance, likewise aimed at non-US users. The total value of tokenized stocks has reached about $2.48 billion, up 5.2% over the past 30 days, according to RWA.xyz data. Monthly transfer volume has climbed to $27.28 billion, while the number of holders has surpassed 2.1 million.
Related coverage — Magazine: Bitget CEO isn't buying the Bitcoin rally — She's waiting for $50K
