Coinbase Launches Tokenized Stocks on Base, Enabling DeFi Collateral

Tokenized equities reaching DeFi collateral status is the real threshold here: once a stock can be borrowed against and lent on-chain, its function shifts from a listed security toward a composable financial primitive, blurring the line between brokerage exposure and DeFi money markets. The immediate read-through is for venues that list both equities and on-chain assets, and for the collateral-risk frameworks that would have to price weekend and 24/7 trading gaps. Whether these tokens attract durable liquidity or remain a thin wrapper on the underlying shares is the open question.