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Coinbase
SPV security giving a beneficial claim on a real share held in trust
Outstanding value$26.7M131.4%30 days
Market share0.7%
In DeFi$5.24M
Tokens38
Stocks38
Chains
Base
Coinbase Tokenized Stocks are securities issued by Coinbase Onchain SPV Ltd in ADGM, giving a beneficial claim on real shares held in trust for token holders. The shares sit 1:1 at Alpaca Securities in bankruptcy-remote segregated accounts. Only authorised participants and KYC'd institutional partners mint and redeem, while non-US buyers trade the B20 tokens permissionlessly on Base.
- Issuing entity
- Coinbase Onchain SPV Ltd
- Jurisdiction
- ADGM, FSRA permission 11 Aug 2026; per-token prospectus, Reg S
- Backing
- 1:1 with a multiplier; no proof of reserves found
- Custodian
- Alpaca Securities, bankruptcy-remote segregated accounts
- Launched
- 24 Aug 2026 on Base with AAPLc, NVDAc, METAc, GOOGLc
- Who can buy
- Non-US; mint and redeem only by APs and KYC'd institutional partners
- Website
- coinbase.com/tokenize
Sources
- coinbase.com/tokenize
- coinbase.com/coinbase-establishes-its-tokenization-hub-in-abu-dhabi
- adgm.com/coinbase-establishes-its-tokenization-hub-in-abu-dhabi-with-financial-services-permission-from-the-financial-services-regulatory-authority
- docs.base.org/tokenized-stocks-on-base
- blog.base.org/tokenized-stocks
- coindesk.com/coinbase-debuts-tokenized-stocks-on-base-network-joining-race-to-bring-equities-on-blockchain
- Sumcap research (3)
By
 NVDAc | NVDA | 100 | 60.7% | $4.3M16.1% | n/a | ||
 METAcMeta Platforms Inc. | META | n/a | None | 0.0% | $3.71M13.9% | n/a | |
 GOOGLcAlphabet Inc. | GOOGL | n/a | None | 0.0% | $3.2M12.0% | n/a | |
 AAPLc | AAPL | 100 | 62.5% | $2.89M10.8% | n/a | ||
 AMZNcAmazon.com Inc. | AMZN | n/a | None | 0.0% | $2.45M9.2% | n/a | |
 TSLAc | TSLA | 100 | 39.2% | $2.07M7.8% | n/a | ||
 SPCXcSpace Exploration Technologies Corp. | SPCX | n/a | None | 0.0% | $1.68M6.3% | n/a | |
 MSFTcMicrosoft Corporation | MSFT | n/a | None | 0.0% | $1.57M5.9% | n/a | |
 MSTRcStrategy Inc. | MSTR | n/a | None | 0.0% | $1.5M5.6% | n/a | |
 SNDKcSandisk Corporation | SNDK | n/a | None | 0.0% | $1.44M5.4% | n/a | |
 MUcMicron Technology Inc. | MU | n/a | None | 0.0% | $862k3.2% | n/a | |
 PLTRcPalantir Technologies Inc. | PLTR | n/a | None | 0.0% | $489k1.8% | n/a | |
 HIMScHims & Hers Health, Inc. | HIMS | n/a | None | 0.0% | $64.6k0.2% | n/a | |
 RDDTcReddit, Inc. | RDDT | n/a | None | 0.0% | $41.8k0.2% | n/a | |
 DJTc | DJT | 36 | 13.8% | $30.5k0.1% | n/a | ||
 AVGOcBroadcom Inc. | AVGO | n/a | None | 0.0% | $30.5k0.1% | n/a | |
 AMDc | AMD | 41 | 42.6% | $30.1k0.1% | n/a | ||
 LLYcEli Lilly & Co | LLY | n/a | None | 0.0% | $29.9k0.1% | n/a | |
 HTZcHertz Global Holdings, Inc. | HTZ | n/a | None | 0.0% | $29.5k0.1% | n/a | |
 GMEcGameStop Corp. | GME | n/a | None | 0.0% | $29.4k0.1% | n/a |
1 to 20 of 38 tokens
of 2
Who holds it
Total$26.7M
- Not indexed69.8%$18.6M
- DeFi19.7%$5.24M
- Wallets5.4%$1.45M
- Exchanges and market makers4.8%$1.27M
- Unclassified0.2%$65.9k
- Other contracts0.1%$35.2k
Where KYC applies
- OnboardingKYC
Only authorised participants and KYC'd institutional partners onboard
- Mint / redeemKYC
Redeem needs the supply manager allowlist; 0.05% redemption fee
- Wallet transfersOpen
Permissionless B20 with one shared blocklist; seize power reserved
- DEX tradingOpen
Aerodrome carries about 85% of DEX volume; Uniswap, PancakeSwap pools too
- DeFi protocolsOpen
Morpho and Aave V4 Equities Hub; DeFi buyers count as freezable