Aave V4 has launched an Equities Hub on Base, allowing seven Coinbase-issued tokenized stocks to be used as collateral for USDC loans. The market went live on September 25, 2026, with collateral-only deposits tied to Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla, according to statements shared with The Block.
Under the initial risk framework, the combined collateral cap across the seven stocks is approximately $29 million, with a $32 million USDC supply cap and a $21 million USDC borrow cap, as detailed by Aave's risk provider LlamaRisk. Collateral factors vary by asset, ranging from 65% for Meta and Tesla to 79% for Microsoft; Apple is set at 78%, Alphabet at 76%, Amazon at 73%, and Nvidia at 70%.
USDC is the sole borrowable asset in the hub, and users cannot borrow the equity tokens themselves. Aave's Hub and Spoke architecture pools the equity collateral into a single market with one USDC reserve, while risk parameters are isolated for each stock. Eligible non-U.S. users in permitted jurisdictions can deposit tokenized stocks and borrow USDC against them, according to Aave and Base.
Chainlink provides onchain pricing through its tokenized equity feeds. LlamaRisk noted that the feeds initially publish from Sunday evening through Friday evening Eastern time and retain their last published value over weekends and market holidays; Chainlink is expected to provide continuous feeds later.
Stani Kulechov, founder and CEO of Aave Labs, said: “Public equities are one of the largest pools of capital in the world, and tokenization is starting to bring that capital onchain. Until now a tokenized stock was something you could hold or trade. Today it becomes something you can borrow against.”
Coinbase issues the stock tokens through an Abu Dhabi-based entity, with Alpaca Securities acting as broker and custodian for the underlying public shares. The products are not registered under the U.S. Securities Act and remain restricted to eligible non-U.S. users. Aave said additional Coinbase tokenized stocks and GHO as a borrowable asset could be added over time, subject to governance and risk review.
Around the announcement, AAVE traded near $146.80 to $147.41, up about 2.4% over 24 hours according to CoinGecko, with chart resistance near $155.43 and support around $134.56. Aave also reported more than $3.6 trillion in cumulative deposits and over $1 trillion in all-time loans.
The launch is part of Aave's broader push into tokenized real-world assets. Aave has separately outlined an Avalanche credit hub where institutions could borrow Tether's USDt against tokenized assets.
