Base launches carry trade vaults for Coinbase tokenized stocks

Two days after Coinbase’s tokenized stock product went live on Base, the ecosystem already has carry trade vaults layered on top of it. The 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 they plug into, Coinbase Tokenized Stocks, launched on Base on August 24, 2026 under the B20 token standard. What tokenized stocks on Base actually are B20 tokens represent a 1:1 claim on real U.S. shares held in regulated custody by Alpaca. The initial lineup covers four of the most traded names in traditional markets: Apple (AAPLc), Nvidia (NVDAc), Meta (METAc), and Alphabet (GOOGLc). Unlike earlier tokenized equity experiments that required custom smart contracts for every individual asset, B20 tokens are designed to plug into existing DeFi infrastructure without bespoke engineering work. Aave, Morpho, Euler, and Aerodrome all accepted these tokens on day one. Chainlink handles the price feeds, which matters for lending markets where accurate real-time valuations determine whether a position gets liquidated. The practical result: someone ...