Tokenized stocks launched by Coinbase on Base on August 24, 2026, have reached a cumulative volume of $5 billion across decentralized exchanges. Daily trading, initially near zero, regularly exceeded $100 million by late October before setting a $150 million record on November 6. A November weekend generated $170 million in transactions while traditional stock exchanges were closed. These securities are backed 1:1 by U.S. shares held through Alpaca, priced by Chainlink oracles, and can be traded, lent or used as collateral across Base’s decentralized finance protocols, with access currently limited to eligible non-U.S. users.
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