Hassan Maishera
TL;DR
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Eligible users outside the U.S. can deposit seven Coinbase-issued tokenized stocks as collateral on Aave V4.
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The stocks track Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla.
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Users can borrow USDC against the stocks, but the equities cannot be borrowed from the market at launch.
Coinbase-issued tokenized stocks are now accepted as collateral for USDC loans on Aave V4 on Base. The new Equities Hub brings seven U.S. equities into Aave’s lending markets for eligible users outside the United States.
Launched Friday, the market supports tokenized stocks tracking Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla. Users in permitted jurisdictions can deposit the assets and borrow USDC against them. At launch, the stocks serve only as collateral; Chainlink’s tokenized equity feeds provide their onchain prices.
Coinbase Tokenized Stocks are live on Aave V4 on @base.
— Aave (@aave) September 25, 2026
Tokenized stocks are only available in eligible jurisdictions outside of the U.S. pic.twitter.com/VOL363Ihd9
Lending Market Opens With Asset-Specific Limits
The Equities Hub has an initial collateral cap of about $29 million across the seven stocks, according to Aave risk provider LlamaRisk. Its USDC supply cap is $32 million, while borrowing is capped at $21 million. Collateral factors vary by stock, ranging from 65% to 79%.
Aave said the market uses its Hub and Spoke architecture to place the equities alongside a single USDC reserve. Each stock has its own risk parameters, and issues affecting one asset are isolated from the others. The market operates around the clock.
“Until now, a tokenized stock was something you could hold or trade. Today it becomes something you can borrow against,” Aave Labs founder and CEO Stani Kulechov told The Block.
Aave Expands Its Push Into Tokenized Assets
The launch advances Aave’s broader interest in bringing stocks and other real-world assets into decentralized finance. Kulechov has argued that institutions could bring substantial demand for onchain borrowing, while describing adoption and distribution as the sector’s main challenges.
For users, the new market adds a way to access USDC without selling their eligible tokenized stock holdings. USDC suppliers, meanwhile, can deposit funds to earn interest.
Aave said additional Coinbase tokenized stocks could join the Equities Hub over time. GHO could also become available for borrowing, though both changes would require governance and risk review.
