Coinbase Brings Tokenized U.S. Tech Stocks to Its Base Blockchain
Coinbase has launched on-chain tokens tracking Nvidia, Apple, Meta and Alphabet on Base, available to eligible users outside the United States.
AfroEuropa Newsroom
AfroEuropa desk
Coinbase has introduced tokenized versions of four major U.S. technology stocks on its Base blockchain, according to BitKE. The offering covers tokens tracking Nvidia, Apple, Meta and Alphabet, and is open to eligible users located outside the United States.
Each token is backed 1:1 by the underlying share, with the shares held by Alpaca Securities, an SEC-registered broker-dealer. Coinbase's Abu Dhabi-based on-chain entity acts as the issuer. Decrypt reported that the tokens are not derivatives that merely track a stock's price, but instead carry a direct claim on a share, including its associated rights.
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