Coinbase launched on Monday tokenized versions of four tech stocks (Nvidia, Apple, Meta, Alphabet) on Base as transferable tokens, enabling eligible non-US users to hold them in a self-custodial wallet without a brokerage account. The tokenized equities market onchain now totals $2.49 billion, up 5.18% over 30 days, with Coinbase entering in fourth position. Token prices tracked underlying assets tightly, with NVDAc trading at $208.51 against Nvidia’s $208.48 close. However, a structural mismatch creates real risk: Chainlink feeds run 24/5 while tokens trade 24/7, potentially exposing lending markets to liquidation against frozen Friday prices. Creation and redemption remain limited to KYC-onboarded Authorized Participants, while secondary trading is permissionless.
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