Are Coinbase tokenized stocks live?

Yes. They went live on 24 August 2026 on Base, starting with Apple, Nvidia, Meta and Alphabet, for eligible users outside the US. Further names were added in the weeks after launch. This is a change from our previous review, when the product had been announced but not shipped.

Do I own the Apple share if I hold AAPLc?

No. You hold a tokenized security issued by an Abu Dhabi vehicle, backed 1:1 by a share held with a regulated custodian. You track the price and the reinvested dividend, but you are not on Apple's register and your rights run against the issuer, not the company.

Can I vote my shares?

Only indirectly, and only if you are a verified holder. Reporting on the prospectus describes vested holders submitting voting instructions to the issuer, which may then vote the custodied shares on their behalf. Holders who have not completed the verification process cannot vote at all.

Can I redeem the token for a real share?

Redemption exists but is gated twice over: you need vested-holder status, and you need a brokerage or bank account capable of receiving the shares or the proceeds. For most retail holders the practical exit is selling the token, not claiming the share.

Not in cash. Distributions are reinvested into the underlying and reflected through an on-chain multiplier, net of withholding tax and, per reporting on the prospectus, a distribution fee taken on the gross amount. Your entitlement grows; your cash balance does not.

How is this different from buying stocks on Coinbase?

Completely different. Coinbase's stock trading — open to all US customers since February 2026 and to UK customers since August 2026 — buys conventional securities through a regulated broker chain: real shares, real dividends, real shareholder rights. The tokenized product on this page is a security token for non-US users with a different rights structure.

Can US users buy Coinbase tokenized stocks?

No. The offering is made under Regulation S and is not available to US persons or in other restricted jurisdictions. US customers can, however, trade real US stocks and ETFs on Coinbase commission-free.

Exchange

Coinbase

Coinbase tokenized stocks went live on 24 August 2026 on Base, issued from Abu Dhabi under Regulation S for eligible non-US users. You own a token backed 1:1 by a share — and voting and redemption are reserved for verified holders.

Tokenized stockA blockchain token that represents a share held by a custodian. You own the token/certificate, not the share directly.Live

What you actually own on Coinbase

A tokenized security, not the share. Coinbase Tokenized Stocks launched on 24 August 2026 on Base, starting with Apple, Nvidia, Meta and Alphabet under a lowercase-c ticker convention (AAPLc, NVDAc). Each token is a claim on one underlying share held by a regulated custodian in a bankruptcy-remote structure. You are not on the issuer's share register.

The nuance most write-ups miss is that the rights attached to the token are tiered. Reporting on the prospectus describes two classes of holder: verified or “vested” holders, recorded in a legal register after KYC and AML checks, and everyone else. Voting instructions and redemption are available to the first group only — and redeeming still requires a brokerage or bank account able to receive the shares or the cash proceeds. A token sitting in a self-custodied wallet is not, by itself, a claim you can exercise.

Separately, Coinbase also sells real shares. US customers have had commission-free stock and ETF trading since February 2026 through Coinbase's own broker-dealer, and UK customers since August 2026. Those are conventional securities with genuine ownership — a different product from the tokens described on this page.

Learn what you own first

Key facts at a glance

Product type

Tokenized stock (security token)

Status

Live since 24 August 2026

Issuer

Coinbase Onchain SPV Ltd (ADGM)

Regulator

ADGM FSRA; offered under Regulation S

Chain

Base

Ticker convention

Lowercase c — AAPLc, NVDAc

Dividends

Reinvested via multiplier, never cash

Voting & redemption

Verified (vested) holders only

Availability

Eligible non-US jurisdictions

Separate product

Real stocks: US since Feb 2026, UK since Aug 2026

How it works

The tokens are issued by an Abu Dhabi vehicle, Coinbase Onchain SPV Ltd, under a Financial Services Permission granted to Coinbase by the ADGM's Financial Services Regulatory Authority. The offering is made under Regulation S, which is the mechanism that keeps it away from US persons.

Tokens are minted on Base and move freely between wallets without a whitelist, so they can be held in self-custody and used on on-chain venues. Creation and redemption at the issuer level run through KYC-approved partners rather than through the open market.

Dividends are not paid out in cash. The issuer reinvests distributions from the underlying company after tax and fees, and the benefit reaches holders through an on-chain multiplier that scales each token's claim — the same broad mechanism bStocks use, with one difference worth knowing: reporting on the prospectus describes a distribution fee charged on gross distributions before reinvestment.

Pros

Issued by a large listed exchange under a named ADGM regulator
Transferable and self-custodiable on Base, with on-chain venue support
Redemption into the underlying share exists — if you qualify
Coinbase also offers genuine share ownership as a separate product

Cons

You are not a shareholder; voting is indirect and gated on verification
No cash dividend — distributions are reinvested, net of tax and fee
Unvested holders can neither vote nor redeem
Not available to US persons or in other restricted jurisdictions

Coinbase FAQ

Stocks on Crypto Research· Editorial team

Our research team tracks how crypto exchanges list equities and what each product legally represents — real shares, tokenized stocks, CFDs and tokenized RWAs. We test platforms and read the fine print so you know exactly what you own.

How we research and verify

Last reviewed on September 21, 2026