> For the complete documentation index, see [llms.txt](https://docs.feel.cash/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.feel.cash/stocks/coinbase-tokenized-stocks.md).

# Coinbase tokenized stocks explained

Understand Coinbase tokenized stocks on Base: token identity, backing, corporate actions, transfer controls, and their use in stock-paired markets.

**Base is the network. Coinbase is the issuer brand. A community coin paired with a stock token is a separate asset.** These distinctions matter when two markets use the same company name.

Reviewed September 14, 2026. Availability and issuer terms can change; check the current documents for the exact token before acting.

## Identify what you are looking at

Coinbase Tokenized Stocks are issued on Base using the B20 standard. Base's official stock directory describes backing by shares in regulated custody and a beneficial claim on the referenced shares. It also links each listed token to its contract and prospectus. Those instrument-specific documents determine the rights and restrictions; a ticker alone does not.

For example, an Apple stock token, an Apple company page, and an iPod-inspired community coin describe three different things. Opening the company page is a discovery step, not proof that every coin shown there represents shares.

Use the [official stock directory and prospectuses](https://brand.base.org/stocks) to match the network and complete contract address. Read the instrument's terms rather than assuming that a token grants every right available through a conventional brokerage account.

## Why the token balance and share exposure can differ

B20 uses a multiplier to represent corporate actions. A split or reinvested dividend can change the shares associated with a token without increasing the raw ERC-20 token count. Dividend reinvestment is net of the deductions described by the issuer.

For integrations, Base explains that the associated total-return price feed already includes the multiplier. Applying it a second time would overstate a position. A market's executable quote is still a separate observation from that reference feed.

See [Base's explanation of corporate actions and price feeds](https://blog.base.dev/b20-tokenized-stocks-on-base) and the [B20 interfaces](https://docs.base.org/upgrades/beryl/b20).

## Availability and transfers

Coinbase Tokenized Stocks are offered only in eligible jurisdictions outside the US. Primary minting and redemption are restricted to onboarded Authorized Participants. Holding a token in a wallet does not remove issuer restrictions or mean that its holder can redeem directly with the issuer.

B20 supports policy checks, pausing, and compliance controls. Check current transfer restrictions and market availability as well as the token address. A network being online does not guarantee a usable trading route or sufficient liquidity.

## How this relates to Feel.cash

In Feel.cash, start with the [company catalog](/stocks/catalog.md) and inspect the representation selected for the action you want. Stock trading availability and launch-pair availability are separate settings.

When a creator selects a supported stock token as a launch pairing, the new coin trades against that token in its pool. **The pairing does not turn the new coin into a Coinbase-issued stock token or transfer the stock token's rights to the coin's holders.**

Continue with [how stock pairings work](/stocks/stock-pairings.md), [how launches work](/launch/how-launches-work.md), or [trading and quotes](/use-feel.cash/trading.md).