Overview
- Aave V4 deployed an Equities Hub on Base that on Friday allowed seven Coinbase tokenized stocks — AAPLc, AMZNc, GOOGLc, METAc, MSFTc, NVDAc and TSLAc — to be posted as collateral to borrow USDC.
- At launch the market uses a single USDC reserve with bespoke collateral factors for each stock and the stock tokens are collateral‑only, meaning the tokens cannot themselves be borrowed or used to borrow other equities.
- Coinbase issues the tokens through Coinbase Onchain SPV Ltd. and the underlying shares sit in segregated custody at Alpaca Securities LLC, while dividends and splits update an onchain multiplier that makes the tokens total‑return instruments.
- Chainlink supplies onchain pricing via 24/5 feeds that publish from Sunday evening through Friday evening Eastern time, so collateral valuations hold at the last published price over weekends and U.S. market holidays and corporate actions can temporarily pause reserves.
- Aave DAO governance and risk review control future changes, including adding more tokenized stocks or enabling GHO as a borrowable asset, and the integration lets non‑U.S. holders unlock dollar liquidity without a taxable sale while introducing market‑timing and operational risks for lenders and borrowers.