Coinbase has added six tokenized equities to Base, including Amazon, Microsoft and Tesla, expanding its onchain stock lineup to ten assets. The expansion follows $227.7 million in decentralized exchange volume generated by its first four tokens in about 30 days, though U.S. persons still cannot access the products.
Base said on Sept. 4 that Amazon, Microsoft, Strategy, SanDisk, SpaceX and Tesla are now available onchain, expanding Coinbase's tokenized stock range weeks after the initial release. The additions give eligible investors exposure to five publicly traded companies and privately held SpaceX through tokens that move across supported applications on the Ethereum layer-2 network. Developers can also integrate the assets into trading, lending, and other financial products built for Base.
Lineup expands to ten tokenized stocks
Coinbase started its Base rollout on Aug. 24 with tokens tied to Apple, Alphabet, Meta, and Nvidia. Adding six more tickers brings the live lineup to 10; MSTRc tracks Strategy, the Nasdaq-listed company known for holding Bitcoin on its balance sheet, while SPCXc provides exposure linked to SpaceX, which remains privately held.
Each underlying share is matched by a B20 token issued by Coinbase Onchain SPV Ltd., with the issuer operating from the Abu Dhabi Global Market and holding the assets in segregated, bankruptcy-remote custody separate from Coinbase. Alpaca Securities, an SEC-registered broker that is also a FINRA and SIPC member, acts as broker and custodian for the public equities.
DEX volume tops $227 million in a month
Token Terminal data placed trading volume for Coinbase-issued stock tokens at $227.7 million across Base decentralized exchanges during the 30 days preceding the latest expansion, with daily activity exceeding $33 million at its peak. An earlier update had put cumulative volume at $124.8 million, with NVDAc accounting for $71.6 million, or 57% of activity recorded at that point.
Separate RWA.xyz figures showed the tokenized-stock sector was already growing before the expansion: in late August, monthly transfers climbed 415% to $29.5 billion, while tokenized equities distributed onchain stood near $2.54 billion.
U.S. investors still shut out
Coinbase offers the B20 securities under Regulation S, an SEC exemption for qualifying transactions conducted outside the United States, so U.S. persons remain unable to access the products even though most underlying companies are U.S.-based or listed. Verified holders who redeem tokens face a 0.05% fee and possible delays from compliance checks and settlement procedures.
Coinbase's tokens have also started appearing in third-party products: in August, Bitwise introduced three automated portfolios for eligible non-U.S. users covering the Magnificent Seven plus SpaceX, robotics and artificial intelligence companies, charging a 0.15% methodology fee.
Source: crypto.news
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