In Coinbase (COIN) crypto news, the exchange launched tokenized versions of Apple (AAPL), Nvidia (NVDA), Meta (META) and Alphabet (GOOGL) shares on its Base network, giving eligible investors outside the United States a way to trade US equity exposure around the clock.
The four products, AAPLc, NVDAc, METAc and GOOGLc, are structured as B20 tokens backed 1:1 by shares held in segregated custody through Alpaca Securities, an SEC-registered broker-dealer, according to Base’s Aug. 25 announcement.
The launch moves a product Coinbase previously ran on its own exchange into an open, composable blockchain environment where tokens can move between self-custodial wallets, decentralized exchanges, and lending markets without a brokerage intermediary sitting between every transfer.
Base said the products are now available natively on the network, extending Coinbase’s push into tokenized stocks as a bridge between conventional equity markets and DeFi.
Coinbase Crypto News: Base Tokenized Stocks: 1:1 Share Backing, Alpaca Custody, B20 Tokens, and How the Products Work
Each token represents a beneficial interest in an underlying share rather than direct legal title or a synthetic derivative that merely tracks price, according to the NVIDIA prospectus approved by the Financial Services Regulatory Authority on Aug. 4 under Abu Dhabi Global Market rules.
Coinbase Onchain SPV Ltd., a Coinbase-controlled entity incorporated in the ADGM, formally issues the securities and initially holds one corresponding share for each token minted, which is held through a segregated custody account.
Alpaca Securities, an SEC-registered broker-dealer and member of the Financial Industry Regulatory Authority and Securities Investor Protection Corporation, buys, sells, and custodies the underlying equities on the issuer’s behalf.
The prospectus states that deposited shares are held in trust for tokenholders, and, subject to the validity of the trust arrangements under ADGM law, those assets would sit outside the issuer’s estate in a bankruptcy or insolvency proceeding.
The distinction matters for what holders actually receive. Coinbase has marketed the structure as “real 1:1 backed tokenized stocks,” but the prospectus distinguishes beneficial exposure from legal ownership of the underlying shares, and holders receive no automatic voting rights.
Verified, or “vested,” holders may submit voting instructions that the issuer will attempt to relay, subject to timing and practical limits, while token balances do not equal a fixed one-share claim indefinitely; dividend reinvestment and corporate actions adjust the deposit ratio over time.
24/7 Trading on Base: How Tokenized Apple, Nvidia, Meta, and Alphabet Shares Extend Market Access Beyond US Hours
In other Coinbase crypto news, shares of Apple, Nvidia, Meta, and Alphabet trade during regular exchange hours, but their Base-based tokens can be traded 24/7, even on weekends and holidays. This allows decentralized markets to react to news before Wall Street opens.
Base identifies Aerodrome as the main venue for tokenized-stock liquidity, with Aave, Morpho, and Euler offering lending services, while 0x, 1inch, KyberSwap, and CoW Swap facilitate swaps.
Chainlink provides the crucial price data for these applications, enabling tokenized equities to be used as on-chain collateral. This composability allows a token to be traded on decentralized exchanges and used as collateral across lending markets.
However, usability depends on liquidity, smart contract risks, and each protocol’s specific rules.
Tokenized Equity Access Outside the US: Coinbase’s Regulatory Scope, Investor Eligibility, and Competitive Position
Access is the defining constraint for the product. The securities are unregistered under the Securities Act of 1933 or with U.S. state regulators and are offered by Coinbase under Regulation S, which allows transactions outside the U.S. The prospectus prohibits selling or delivering the tokens within the US or to US persons.
Coinbase also operates a regulated brokerage for American customers to trade stocks and ETFs through Coinbase Capital Markets, with execution via Apex Clearing. Furthermore, Coinbase is expanding equity access internationally, including UK stock trading under FCA and MiFID rules.
The competitive landscape is evolving, with Robinhood (HOOD) pursuing tokenized equity on an Ethereum-compatible network, a move that Base founder Jesse Pollak acknowledged as a lag in their progress. Other platforms use different models for stock exposure, such as synthetic methods, in contrast to Coinbase’s beneficial-ownership design.
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