Coinbase’s tokenized versions of Nvidia (NVDAc), Alphabet (GOOGLc), Apple (AAPLc) and Meta (METAc) generated $124.8 million in decentralized-exchange volume during their first four days on Base, underscoring early demand for around-the-clock access to U.S. equities. Coinbase launched the products on Aug. 24 using its B20 token standard, which remains compatible with ERC-20 while supporting decentralized-finance applications, and Chainlink oracles for market pricing. Each token is backed 1:1 by shares held in bankruptcy-remote custody through Alpaca, a brokerage infrastructure provider regulated by Abu Dhabi Global Market’s financial authority. The products are restricted to eligible non-US users using self-custodial wallets. About $4.55 million of tokens were minted on the first day, while roughly $3 million in DEX liquidity was deployed and 24-hour volume reached $10.8 million. Supply on Base then rose to between $17 million and $21 million, with Aerodrome handling most activity and Nvidia and Alphabet leading trading. The wider tokenized-equities market is valued at approximately $2.48 billion. The structure addresses institutional concerns over custody segregation and price reliability, but remains exposed to regulatory changes, jurisdictional restrictions and the operational risks of the custodian and redemption process.