Base launches Coinbase-issued tokenized stocks via B20 standard, allowing fractional shares to be used as DeFi collateral and liquidity.
DeFi & Yields ·
Base rolled out tokenized stocks issued by Coinbase, built on the B20 standard, allowing users to trade fractional shares of companies like Apple and NVIDIA in their own wallets. The shares are backed 1:1 by physical stock held in a bankruptcy-remote custody structure, with Alpaca serving as the regulated broker and custodian under oversight from Abu Dhabi Global Market's regulatory authority. Holders maintain direct claims on the underlying equity.
The infrastructure enables round-the-clock trading via automated market makers and opens stock access to non-US users in eligible jurisdictions without traditional brokerage account requirements or settlement delays. Tokenized shares can be deployed across the Base ecosystem—used as collateral on lending protocols like Aave, supplied to decentralized exchanges for yield, or integrated with other DeFi services. The B20 standard extends ERC-20, enabling compatibility with existing wallets and protocols without platform lock-in or whitelisting restrictions. Dividend payments and stock splits are managed onchain via a multiplier mechanism to prevent disruption to DeFi positions.
Coinbase intends to launch additional tokenized equities in the coming weeks, with third-party protocols already signaling support. The offering remains restricted to eligible jurisdictions outside the United States and may carry issuer-imposed KYC or eligibility requirements.