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Matthias Knab, Opalesque for New Managers:

Coinbase has moved its tokenized US equities natively onto Base, its own Ethereum layer-2 network, putting shares of Apple, Nvidia, Meta and Alphabet onchain for eligible users outside the United States. The tokens went live on 24 August under the tickers AAPLc, NVDAc, METAc and GOOGLc, with the company signalling that more names will follow in the coming weeks.

Each token is issued using B20, a Base-built standard that extends ERC-20 and is designed to stay compatible with existing wallets, routers and DeFi protocols. Institutional market makers buy the underlying shares, which are held 1:1 by Alpaca, a regulated broker and custodian, in a bankruptcy-remote structure supervised by Abu Dhabi Global Market's regulator. Holders receive a direct beneficial claim on the share rather than a synthetic price tracker.

Chainlink feeds supply continuous valuations, Aerodrome provides trading liquidity, and lending markets such as Aave can accept the tokens as collateral. The pitch is familiar: round-the-clock trading, fractional ownership, global reach without a brokerage account, and composability across DeFi, so a holder can post tokenized Nvidia as collateral for a loan or supply Apple to a decentralized exchange for yield. Base is framing the launch as infrastructure - a base layer other builders plu......................

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