According to Woofun AI, with the launch of tokenized stocks for tech giants such as Apple (AAPL.US) and Microsoft (MSFT.US) on the Base platform, the total market capitalization of the global tokenized stock market has climbed to $3.84 billion.
This milestone breakthrough signals that the tokenization of traditional financial assets has moved from the proof-of-concept stage into the early phase of large-scale application, prompting markets to reassess the liquidity of programmable assets.
Behind the rapid expansion of market data is Base's intensive push in ecosystem development. As of 4:35 PM Eastern Time on October 28, 2026, the cryptocurrency market overall showed a moderate upward trend, with Bitcoin priced at $81,135, up 0.74%, and Ethereum at $2,354, up 0.65%. Against this macro backdrop, the Base platform, as an Ethereum Layer 2 network backed by Coinbase Global, Inc. (COIN.US), is becoming a core host for tokenized stocks.
Currently, the platform has listed tokenized stocks of several major U.S. corporations, including Apple (AAPL.US), Alphabet (GOOGL.US), Microsoft (MSFT.US), Amazon (AMZN.US), Nvidia (NVDA.US), Tesla (TSLA.US), and Strategy (MSTR.US). These assets are primarily available for holding and trading by eligible non-U.S. investors, with their underlying assets backed by real U.S. stocks held by regulated custodians and strictly adhering to the B20 token standard.
Data compiled by Woofun AI shows that the number of holder addresses for tokenized stocks across global public blockchains has reached approximately 4.5 million, and over the past 30 days, the total market value has grown by nearly 18% to $3.84 billion. This growth rate indicates that tokenized stocks are no longer a marginalized experimental attempt but are forming an independent asset class with substantial liquidity.
Base emphasizes that, subject to eligibility restrictions, these stocks can not only be transferred and traded but also seamlessly integrated into other decentralized applications, thereby breaking the trading-hour limitations of traditional brokerage accounts.
As Wall Street's earnings season approaches, the use cases for tokenized stocks are deepening from simple trading to programmable collateral. The Base platform has highlighted tokenized stocks of companies in the midst of their earnings release cycles, including Alphabet (GOOGL.US), Microsoft (MSFT.US), Amazon (AMZN.US), Eli Lilly (LLY.US), and Strategy (MSTR.US), aiming to leverage blockchain infrastructure to enable round-the-clock trading.
Unlike traditional markets, these assets can interact with DeFi applications in real time. For example, Aave has announced support for seven tokenized U.S. stocks issued by Coinbase Global, Inc. (COIN.US) as collateral for borrowing USDC on the Base platform. This move directly embeds stock assets into the credit market, enhancing capital efficiency.
Coinbase Global, Inc. (COIN.US) CEO Brian Armstrong noted on X that all asset classes are migrating to the blockchain, with tokenized stocks and stablecoins developing extremely rapidly, and more new products expected to emerge in the future. Meanwhile, platforms such as bStocks, Ondo, xStocks, Securitize (SECZ.US), and Coinbase Global, Inc. (COIN.US) are fiercely competing for market share.
Blockworks co-founder Jason Yanowitz believes that tokenized stocks are one of the fastest-growing investment categories in the tech sector today. However, the real challenge lies in building robust lending markets and liquidity guarantee mechanisms so that investors can fully utilize these programmable assets, rather than merely focusing on the tokenization itself.
Although the $3.84 billion market cap remains small compared to the trillions of dollars in the traditional stock market, its growth momentum has attracted significant industry attention. The future competitive focus will no longer be limited to who tokenizes Apple (AAPL.US) or Nvidia (NVDA.US) shares first, but rather who can offer more attractive liquidity solutions and round-the-clock trading experiences.
Notably, competition at the infrastructure level is also intensifying. Binance founder Changpeng Zhao (CZ) recently expressed support for BNB Chain to develop a new EVM-compatible Layer 1 network. This network would run in parallel with the main network and use BNB as the gas fee for transactions. This development suggests that, beyond Ethereum Layer 2 networks, other high-performance public chains may also become important competitors in tokenized assets.
As the boundary between traditional finance and DeFi further blurs, whether tokenized stocks can achieve genuine financial innovation while maintaining compliance will be the key variable determining their long-term value.
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