Timeline
- 7.5
Coinbase Tokenized Stocks Become Collateral On Aave V4 Base
Coinbase-issued tokenized stocks are now accepted as collateral on Aave V4 on the Base network, extending DeFi lending to tokenized equity collateral tied to a major exchange. TokenPost described the change as Aave V4 adding Coinbase-tokenized U.S. stocks as USDC collateral. The integration adds a new collateral type to one of DeFi's largest lending protocols and connects an exchange-issued tokenized equity product to on-chain credit markets. According to Aave's own blog post, the tokens are offered under Regulation S and only to eligible non-U.S. persons in permitted jurisdictions, which limits who can actually use them. The tokenized stocks operate on Base and are backed 1:1 by real shares held in regulated custody, per Bitrue's explainer on Coinbase tokenized stocks. Aave's blog states these are securities issued by Coinbase and offered under Regulation S only to eligible non-U.S. persons in permitted jurisdictions.
- 7.5
Apple And Nvidia Tokenized Stocks Can Now Back USDC Loans On Aave - TradingView
Tokenized Apple and Nvidia stocks can now be used as collateral to borrow USDC on the Aave lending protocol. The listing extends real-world-asset collateral into DeFi credit markets, enabling a borrow-against-equity product on Aave. The move widens the range of accepted collateral on a major DeFi lending protocol from crypto-native assets to tokenized equities, linking equity exposure to onchain credit for the first time in this form.
- 7.5
Aave Adds Coinbase Stock Tokens as Collateral on Base
Aave has enabled seven Coinbase-issued tokenized stock tokens — including Apple, Nvidia and Tesla — as collateral for USDC loans in a dedicated V4 market on Base. The market carries a 21 million USDC borrowing cap and access is restricted to eligible non-US investors. The move brings tokenized equities into on-chain credit at one of the largest and most established DeFi lending platforms, letting eligible non-US users borrow USDC against tokenized stock exposure. The 21 million USDC cap and non-US eligibility requirement keep the market's initial scale limited. The seven tokens are Coinbase-issued and are accepted only in a dedicated Aave V4 market on Base, where they back USDC loans rather than general-purpose borrowing. Access is limited to eligible non-US investors, and borrowing against the collateral is capped at 21 million USDC.
- 7.5
Borrow Against Your Bitcoin at a Fixed Rate: Coinbase Expands Morpho Loans
Coinbase announced on Tuesday that it has launched fixed-rate USDC loans that users can borrow against their Bitcoin, with the interest rate and repayment date locked in from the start. The product is the first enterprise-scale deployment of Morpho Midnight, a newer version of the Morpho protocol built to support fixed rates and defined maturities, and it sits alongside Coinbase's existing Morpho-powered variable-rate loan book. Fixed rates and set repayment dates are foundational to traditional credit markets, and bringing them to a platform of Coinbase's size is a notable step for on-chain lending, which has largely run on variable rates. Morpho framed the speed of the build as evidence that fintechs can layer sophisticated credit products atop open infrastructure without reconstructing the underlying stack. Coinbase controls the user experience through its app, Morpho provides the underlying credit infrastructure and Coinbase's Base network handles settlement. The fixed-rate option joins Coinbase's existing Morpho-powered variable-rate loans, which now total more than $1.4 billion in active loans backed by roughly $3 billion in collateral; Coinbase first launched Bitcoin-backed borrowing on Base in early 2025. Morpho said the integration begins with Bitcoin but the protocol is designed to eventually support tokenized stocks and other real-world assets.