Tokenized stocks (B20 on Base)
Coinbase announced 1:1-backed tokenized US stocks on June 16, 2026 and launched them on Base on August 24, 2026 for eligible users outside the United States, with shares held at Alpaca.
What it is
Tokenized shares of US companies, each token a claim on an underlying share held by broker and custodian Alpaca, with dividends paid to holders. Chainlink supplies pricing data and the tokens trade onchain on Base. Coinbase has not reported volume or user numbers for the product in its filings as of this date.
Why it matters to the stock. Tokenized equities are a test of whether Coinbase can take stock trading onchain and onto Base, and of how it competes with Robinhood and other onchain equity offerings. Early size is small, so traders should watch for reported volume in future quarterly materials.