Tokenized stock transfers surge 415% as Coinbase adds four equity tokens on Base

Transfer volume for tokenized stocks climbed more than 415% over the 30‑day period ending August 29, reaching $29.5 billion, according to data from RWA.xyz. The jump coincided with Coinbase’s launch of four equity tokens on its Base L2 network.

Coinbase introduces four on‑chain equity tokens

On August 24, Coinbase released tokenized versions of Nvidia, Meta, Apple and Alphabet shares on Base. The tokens trade under the tickers NVDAc, METAc, AAPLc and GOOGLc and use Coinbase’s B20 token standard. Each token is backed one‑for‑one by an underlying share held in a segregated custody account managed by Alpaca Securities.

Growth in on‑chain activity

Monthly active addresses interacting with tokenized stocks rose 209% to roughly 1.3 million, while the number of holders increased 167% to 2.36 million. On‑chain tokenized stock value reached $2.54 billion, up about 637% from a year earlier.

Market composition

• Securitize Corp. led individual tokenized stocks with approximately $163 million.
• Strategy PP Variable xStock followed with $136 million.
• link" href="/prices/ondo-ondo">Ondo’s Circle Internet Group token held about $109 million.
• Ondo, Kraken and Binance together accounted for roughly 81% of the tracked market value.

Regulatory and user restrictions

Base stock tokens are limited to eligible non‑U.S. users under Regulation S. U.S. investors cannot purchase or redeem the tokens, and redemption for shares or cash is only available to verified holders after compliance checks, with a 0.05% fee.

Integration with DeFi protocols

The B20 tokens can be used in supported Base applications, including liquidity provision on Aerodrome and lending on Aave, Morpho and Euler. Chainlink provides price feeds that combine the underlying stock price with a Coinbase multiplier to support borrowing and collateral calculations.

Risks and operational notes

Continuous on‑chain trading means token prices can move outside regular market hours, potentially widening price gaps. Dividends are typically reinvested into additional underlying shares rather than paid out directly to token holders.