Coinbase-issued tokenized stocks on the Base platform have reached approximately $850 million in weekly decentralized exchange volume. According to Token Terminal, these securities are represented by B20 tokens, each providing a claim on a U.S. share held in regulated custody and available to investors outside the United States. Activity is predominantly concentrated on Aerodrome, which has captured most of the volume since the launch. Markets still assign a low probability, around 1.9%, to a Base token launch by the end of 2026, although the surge in activity could fuel speculation.
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