Overview
- Coinbase launched 1:1‑backed tokenized shares on its Ethereum layer‑2 Base network, which went live Monday, August 24, 2026, for eligible users outside the United States.
- Each B20 token represents a beneficial claim on a real share held by Alpaca in a bankruptcy‑remote custody arrangement supervised under Abu Dhabi Global Market rules.
- The B20 standard encodes corporate actions so dividends and splits adjust a token’s onchain multiplier without changing token balances or breaking DeFi positions.
- Tokens can be held in self‑custody wallets, traded on onchain venues such as Aerodrome, and used as collateral in lending markets like Aave, enabling 24/7 price discovery and new DeFi products.
- Availability is limited by jurisdiction and identity checks, dividends face withholding and fees under the prospectus, and Base says more tickers and real‑world assets will be added in the coming weeks.