Token Terminal, an on-chain analytics platform tracking thousands of crypto assets, has added AAPLc to its listings. Issued by Coinbase on Base, AAPLc represents a 1:1 beneficial interest in an Apple share and has a market capitalization of roughly $1.29 million. About 4,166 tokens are in circulation, with the token trading near Apple’s stock price of around $310 per share. The underlying shares are held by Alpaca Securities, a regulated custodian overseen by the Abu Dhabi Global Market, in a structure designed to keep them separate from potential insolvency proceedings involving Coinbase Onchain SPV Ltd. AAPLc uses the B20 token standard, supports self-custody and can be used across Base’s DeFi ecosystem, but access is restricted to eligible non-US investors. Coinbase launched AAPLc on August 24 alongside tokenized stocks including NVDAc and METAc. The initial group of four tokens reached a combined market cap of approximately $4.55 million, with more than $3 million in liquidity on decentralized exchanges and daily trading volume of $10.8 million during the first days. Aerodrome is the main trading venue. Token Terminal’s addition broadens its coverage to tokenized equities while enabling real-time tracking of market capitalization, trading volume and holder distributions. The structure reflects renewed efforts to tokenize stocks after earlier offerings from FTX and Binance encountered regulatory problems or failed with their host platforms.