Coinbase launched tokenized stocks on Base, its Ethereum layer-2 network, for eligible users outside the United States, expanding equities access into decentralized finance (DeFi). The initial offering includes Nvidia, Meta, Apple and Alphabet shares, with Aerodrome providing liquidity on Base’s decentralized exchange. The assets use a c suffix, including NVDAc and AAPLc, and are issued as B20 tokens backed one-for-one by actual shares held in regulated custody. Liquidity providers earned triple-digit APRs as AERO incentives and trading fees supplemented initial emissions, while the tokens supported around-the-clock trading, lending, collateral and automated DeFi strategies. Jesse Pollak, Base’s lead, confirmed the yields on September 22. Four pools processed approximately $103 million in trading volume soon after launch, and the NVDA/USDC pool recorded more than $11.2 million in 24-hour volume. Access remains restricted to non-U.S. users, while market participants continue to monitor Coinbase’s Base expansion, regulatory developments and any future token-related announcements.