Coinbase outlines three models for tokenized equities and claims the ownership crown
Coinbase has published a breakdown of three models for tokenized equities, claiming its 1:1 backed stock tokens set the standard in a market crowded with synthetic alternatives.
On September 14, 2026, Coinbase CEO Brian Armstrong emphasized that the company's tokenized stocks represent the benchmark for genuine ownership in a market increasingly crowded with synthetic alternatives. Coinbase launched its tokenized equity products on August 24, 2026, built on the company's B20 token standard.
Real Ownership Claims
The initial batch of tokens represents shares in four major tech companies: AAPLc for Apple, NVDAc for Nvidia, METAc for Meta, and GOOGLc for Alphabet. Each token functions as a direct 1:1 claim on an underlying share held in segregated accounts by Alpaca Securities under Abu Dhabi Global Market supervision.
The structure is designed to be bankruptcy remote, providing regulatory backing that synthetic products lack. These products are currently available only to eligible non-US investors under Regulation S, which covers securities offerings made outside the United States.
Dividend and Voting Mechanics
Dividends are not distributed as cash but are instead reinvested, with the reinvestment reflected through an on-chain multiplier. Voting rights for token holders have been announced as upcoming features but are not yet live, representing a limitation of the current implementation.
Market Models and Future Plans
Coinbase frames the tokenized equity market as three distinct models, with the sharpest divide between products offering real ownership and those providing only synthetic exposure. The company's approach contrasts with synthetic products that track stock prices without granting actual ownership rights.
These tokenized stocks are part of Coinbase's broader "Everything Exchange" initiative, which aims to blend traditional equity trading with blockchain infrastructure. The company has established a tokenization hub in Abu Dhabi, aligning with the ADGM oversight and the non-US focus of its launch.
Competitors like Kraken with its xStocks product and Robinhood are also active in this space. Market response has been positive, with significant trading volumes observed on decentralized exchanges following the launch, suggesting investor preference for products delivering concrete ownership.
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