Coinbase’s tokenized stocks on the Base platform have reached a cumulative trading volume of $4 billion on decentralized exchanges, according to data from Token Terminal. These securities, known as B20 tokens, represent U.S. equities and are backed one-for-one by shares held with a regulated custodian. Minting and redemption are restricted to identity-verified participants, while secondary-market trading is open to eligible users outside the United States. This activity indicates strong interest in Coinbase’s offering and could influence expectations for the Base ecosystem, including a potential token launch. However, market pricing still suggests that the probability of a Base token launch by the end of 2026 is low.
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