Coinbase Tokenized Stocks

Coinbase Tokenized Stocks bring US equities on-chain as B20 tokens on Base, and the backing language is the strongest on this page: each token is a beneficial, senior 1:1 claim on a real share held in regulated, bankruptcy-remote custody kept separate from Coinbase. Coinbase is the issuer, licensed and authorized by the Abu Dhabi Global Market’s Financial Services Regulatory Authority. We rate it 5.0 out of 10 as of September 2026.

What holds the score down is price transparency. No trading fee, commission or spread is published for the Base/B20 product on any Coinbase primary page, so you cannot know the real cost before you fund. That single gap is why a platform with the roster’s best custody design lands mid-table.

Who it is for: non-US buyers who want a well-structured claim on a US share and can accept an unpublished fee. Under Regulation S, the product is not available to US persons, and the exclusion is open-ended (“other restricted jurisdictions”) with no named list beyond the US.

What you actually hold is a token, not the share, though a closer claim than most. Four tickers carry prospectuses today: Apple, Alphabet, Meta and Nvidia. Primary minting and redemption run through KYC-onboarded institutional Authorized Participants on the same create-and-redeem model as ETFs and ADRs; you buy and sell the token on-chain. It trades around the clock, including market holidays, and withdraws to a self-custodial wallet across the Base DeFi ecosystem. Dividends reach you through an on-chain multiplier that raises your share-equivalent value, net of applicable withholding and fees, rather than as cash.

The verdict: the best backing on the page, the least price disclosure. If Coinbase publishes a fee schedule this rises quickly; until then, price the unknown in.