Apple (AAPL.US) and Microsoft (MSFT.US) explode 3.8 billion market capitalization on the chain, and tokenized stocks enter the DeFi deep-water zone

According to Woofun AI, with the launch of stock tokens from tech giants such as Apple (AAPL.US) and Microsoft (MSFT.US) on the Base platform, the total market value of the global tokenized stock market has climbed to $3.84 billion. This massive breakthrough marks that traditional financial assets have moved from the proof of concept stage to the early stage of large-scale application, triggering the market to re-evaluate the liquidity of programmable assets.

Behind the rapid expansion of market data is the intensive promotion of the Base platform's ecological layout. As of 4:35 p.m. (EST) on October 28, 2026, the overall cryptocurrency market showed a moderate upward trend. The price of Bitcoin was at $81,135, an increase of 0.74%; the price of Ethereum was at $2,354, an increase of 0.65%. In this macro context, the Base platform, as an Ethereum Layer 2 network supported by Coinbase (COIN.US), is becoming the core carrier for tokenized stocks.

Currently, the platform has launched a number of major US corporate stock tokens, 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 mainly open to eligible non-US investors to hold and trade. Their underlying assets are backed by real US stocks held by regulated custodians and strictly follow the B20 token standard.

According to data compiled by Woofun AI, the number of addresses holding tokenized shares on the global public blockchain has reached about 4.5 million, and the total value of the market has increased by nearly 18% over the past 30 days to reach US$3.84 billion.

This growth rate shows that tokenized stocks are no longer an experimental attempt at marginalization, but are forming independent asset classes with substantial liquidity. Base emphasized that on the premise that they meet the eligibility restrictions, these stocks can not only be transferred and traded, but can also be seamlessly integrated into other decentralized applications, thus breaking the trading time limits of traditional brokerage accounts.

As Wall Street earnings season approaches, the application scenario for tokenized stocks is deepening from simple transactions to programmable collateral. The Base platform focuses on promoting stock tokens from companies such as Alphabet (GOOGL.US), Microsoft (MSFT.US), Amazon (AMZN.US), Eli Lilly (LLY.US), and Strategy (MSTR.US), which are in the financial reporting cycle, with the aim of using blockchain infrastructure to enable round-the-clock transactions. Unlike traditional marketplaces, these assets can interact with DeFi applications in real time. For example, Aave has announced support for seven tokenized US stocks issued by Coinbase (COIN.US) as collateral to lend USDC on the Base platform.

This move directly embedded stock assets into the credit market, improving capital efficiency. Coinbase (COIN.US) CEO Brian Armstrong pointed out on the X platform that all asset classes are migrating to blockchain, tokenized stocks and stablecoins are developing extremely fast, and more new products will emerge in the future.

Meanwhile, platforms such as bStocks, Ondo, xStocks, Securitize (SECZ.US), and Coinbase (COIN.US) are fiercely competing for market share. Blockworks co-founder Jason Yanowitz believes tokenized stocks are currently one of the fastest growing types of investment in the tech sector.

The real challenge, however, is how to build a perfect lending market and liquidity guarantee mechanism so that investors can make full use of these programmable assets rather than just focusing on the chain itself.

Although the market value of $3.84 billion is still small compared to the trillions of dollars in the traditional stock market, its growth momentum has attracted great attention from the industry. Future competition will no longer be limited to who takes the lead in listing Apple (AAPL.US) or Nvidia (NVDA.US) shares, but who can provide more attractive liquidity solutions and a 24/7 trading experience.

Notably, competition at the infrastructure level is also intensifying at the same time. Binance founder Changpeng Zhao (CZ) recently expressed support for BNB Chain to develop a new Layer 1 network compatible with EVM standards. The network will run in parallel with the main network and use BNB as gas fees when trading.

This trend suggests that in addition to the Ethereum Layer 2 network, other high-performance public chains may also become important competitors for tokenized assets. As the boundaries between traditional finance and DeFi melt further, whether tokenized stocks can achieve true financial innovation while maintaining compliance will be a key variable in determining their long-term value.