Coinbase Achieves $1 Billion in Tokenized Stock Volume on Base Network
Coinbase has reached a significant milestone on its Base network, recording over $1 billion in decentralized exchange (DEX) volume for its tokenized US equities within a month. This achievement, announced on September 19, 2026, highlights the growing momentum in the tokenized asset space, particularly for non-US persons, as the market begins to adapt to new regulatory frameworks in the United States.
The $1 billion figure serves as a proof-of-concept for the B20 standard, which was launched on August 24, 2026. This ERC-20-compatible format is designed to navigate the complexities of compliance policies in traditional finance. Notably, Aerodrome, the Base-native DEX, accounted for approximately 85% of the trading activity, totaling around $852.7 million, reflecting an 830% increase in tokenized stock spot DEX volume month-over-month.
Coinbase's approach differs from competitors like Kraken and Binance by offering direct 1:1 share ownership through Alpaca Securities, a regulated broker-custodian under the Abu Dhabi Global Market framework. This model allows token holders to retain actual shareholder rights, including dividends and voting, while integrating decentralized finance (DeFi) functionalities from the outset. The recent issuance of an Innovation Exemption by the U.S. Securities and Exchange Commission (SEC) on September 17, 2026, further paves the way for tokenized stocks to operate within U.S. markets, provided they meet specific compliance requirements.
As the tokenized public equities market grows, currently valued at approximately $2.48 billion, Coinbase's combination of shareholder rights and DeFi composability sets it apart from other players in the field. The ongoing tension between traditional market structures and on-chain efficiency remains unresolved, but Coinbase's recent success indicates a significant shift in the landscape of equity trading.
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Source: KLEA News