Aave V4 on Base now accepts tokenized versions of seven major U.S. stocks from Coinbase as collateral for USDC loans. The integration, launched Friday, provides eligible non-U.S. users a new avenue to leverage traditional equities within DeFi lending protocols.
The Equities Hub supports tokenized shares of Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla. Users can deposit these on-chain representations and borrow USDC against them. The tokenized stocks themselves cannot be borrowed, nor can they be used to create equity-against-equity positions at launch.
The initial market carries a combined collateral cap of approximately $29 million across all seven assets. LlamaRisk, Aave's risk provider, reported a $32 million USDC supply cap and a $21 million borrowing cap. Collateral factors for individual stocks range from 65 percent to 79 percent.
Chainlink provides on-chain pricing data through dedicated equity feeds that publish price updates Sunday evening through Friday evening U.S. Eastern Time, retaining the latest available price during weekends and U.S. market holidays.
Aave implemented a Hub and Spoke architecture to manage the market. This design bundles the seven tokenized equities into a single market with one USDC reserve while maintaining distinct risk parameters for each stock. Users can collateralize with multiple tokenized stocks without requiring separate USDC liquidity pools for each asset.
The market operates 24 hours a day. However, price updates for collateral assets pause outside traditional U.S. trading hours due to the reliance on Chainlink's market-hour feeds.
This functionality is restricted to eligible users in permitted jurisdictions outside the United States. Aave has indicated that additional Coinbase tokenized stocks may be integrated following governance votes and risk assessments. GHO, Aave's native stablecoin, could also be introduced as a borrowing asset within the Equities Hub.
