The long (and good) version of why today’s launch is a big deal for tokenized assets.
Borrowing USDC against Coinbase Tokenized Stocks is now possible on a dedicated @aave V4 instance on @base. Coinbase Tokenized Stocks Spoke on @aave v4 lets users deposit stocks issued by @coinbase (AAPLc, AMZNc, GOOGLc, METAc, MSFTc, NVDAc, TSLAc) as collateral and borrow @circle USDC against them. This allows users to keep their exposure to the stock without selling it while unlocking liquidity that can then be reinvested in other assets or spent, increasing capital efficiency. Aave loans have no fixed term so users only need to keep a healthy LTV to avoid liquidation and they can repay the loan whenever they want. In TradFi, borrowing against a stock portfolio means having access to a margin account that takes time and comes with account approvals, minimum balances requirements, and other broker terms Aave v4 Coinbase Tokenized Stocks Instance reduces the complexity of this type of operation, opens access to more capital efficency, while leveraging onchain rails. At the same time, it brings more borrow demand for onchain assets that can pay a yield to users that want to provide liquidity to this market.

Sep 25, 2026 · 4:35 PM UTC

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Replying to @antoniogm
margin calls on weekend hours gonna be fun
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Replying to @antoniogm
Tokenized stocks broadening collateral is useful, but the $4T/$1T scale still leaves oracle, liquidation, and redemption-window risk. Who controls settlement if the issuer or venue pauses?
Replying to @antoniogm
The long version is just the short version with more steps Borrowing against stocks without selling was already possible in tradfi The only new part is the onchain rails
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Replying to @antoniogm
the key part for non US users: this is margin lending without a margin account. no broker approval, no minimum balance, repay whenever you want. the open question is weekend pricing. the token trades 7 days a week, the stock underneath trades
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Replying to @antoniogm
liquidation risk gonna be fun
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Replying to @antoniogm
What are terms?
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Replying to @antoniogm
Well said!
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