Coinbase Brings Tokenized Stocks to Ethereum L2 Base
In brief Base has added Coinbase-issued tokenized stocks for eligible users outside the U.S. The initial offering includes fractional shares of Apple and Nvidia.
Why It Matters
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Key Facts
- Fact 1: The team behind Base, Coinbase’s Ethereum layer-2 network, said on Monday that Coinbase-issued tokenized stocks are now live on the blockchain for eligible users outside the United States.
- Fact 2: The tokenized stocks use Coinbase’s B20 token standard, which processes dividends and stock splits without changing token balances or disrupting DeFi positions.
- Fact 3: “Tokenized stocks can trade across always-on AMM pools, so users can react to an earnings call at 3am, a macro event, or weekend news, instead of trading hours designed for a pre-internet era.” Coinbase unveiled plans in June for tokenized stocks backed 1:1, meaning each token would represent a real share held in custody, with dividends paid automatically.
- Fact 4: Last month, Robinhood launched its layer-2 network Robinhood Chain, with tokenized stocks among its first offerings.
In brief Base has added Coinbase-issued tokenized stocks for eligible users outside the U.S. The initial offering includes fractional shares of Apple and Nvidia.
Users can hold the tokens in self-custody wallets or trade them on Aerodrome. The team behind Base, Coinbase’s Ethereum layer-2 network, said on Monday that Coinbase-issued tokenized stocks are now live on the blockchain for eligible users outside the United States. In a post on X, the Base team said each token represents a share held by Alpaca, a regulated broker and custodian.
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Original source: Decrypt
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