Coinbase tokenized stocks generate $124M in DEX trading volume within four days

Coinbase’s tokenized stock experiment just got its first real stress test, and the results are hard to ignore. Within four days of launching on the Base layer-2 blockchain, tokenized versions of major tech stocks racked up $124.8 million in decentralized exchange trading volume. What Coinbase actually built On August 24, Coinbase introduced tokenized representations of four blue-chip tech stocks on Base: NVDAc (NVIDIA), GOOGLc (Alphabet), AAPLc (Apple), and METAc (Meta). Each token is backed 1:1 by real shares held in bankruptcy-remote custody through Alpaca, a brokerage infrastructure provider regulated by Abu Dhabi Global Market’s financial authority. The tokens use a new B20 standard, which maintains ERC-20 compatibility while enabling seamless DeFi integration. Chainlink oracles handle the pricing feeds, connecting real-world stock prices to on-chain activity. Day one saw roughly $4.55 million in tokens minted, about $3 million in DEX liquidity deployed, and $10.8 million in 24-hour trading volume. The supply of tokenized equities on Base then quadrupled to somewhere between $17 million and $21 million within days. Most of that activity flowed through Aerodrome pools, the domin...