Base, Coinbase’s layer two solution, launched carry trade vaults for tokenized stocks just two days after the product went live on its blockchain. These vaults, developed by third-party protocols including 628 Labs, Superform, IPOR, and Portals, allow users to generate yield by lending and borrowing against tokenized equity positions. The underlying product, Coinbase Tokenized Stocks, launched on Base on August 24, 2026 under the B20 token standard, representing a 1:1 claim on real U.S. shares held in regulated custody by Alpaca. On launch day, approximately 4.55 million dollars worth of tokenized stocks were minted, roughly 3.06 million dollars in DEX liquidity was seeded across trading pairs, and total trading volume reached 10.8 million dollars. These vaults notably enable holders of tokens like NVDAc to use their position as collateral to borrow a stablecoin and deploy that stablecoin into a yield strategy, effectively creating a leveraged Nvidia position with an attached yield stream.
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