Coinbase stock tokens generate $228M in DEX trading volume on Base

Coinbase’s tokenized stock experiment is off to a strong start. In roughly 30 days since launch, tokenized equities trading on the Base layer-2 network have racked up $227.7 million in decentralized exchange volume. The tokens, which represent 1:1 backed versions of major US equities like Nvidia, Apple, Meta, and Alphabet, launched on August 24 and immediately attracted aggressive trading activity. In just the first week, DEX volume hit $94.6 million. Nvidia’s token alone accounted for roughly 57% of that figure. How Coinbase’s tokenized stocks actually work Each token follows Base’s B20 standard and is issued at a 1:1 ratio with actual shares held in regulated custody by Alpaca, a brokerage infrastructure provider. These tokens trade 24/7, support fractional ownership, allow self-custody in personal wallets, and plug directly into DeFi protocols. Aerodrome DEX serves as the primary liquidity venue, with Chainlink providing price feeds to keep token valuations tethered to real-world stock prices. Integrations with Aave, Morpho, 0x, and 1inch mean these tokens can be lent, borrowed against, and routed through aggregators. The service is available exclusively to eligible non-US users...