Aave has opened a market on Coinbase’s Base network that lets users borrow USDC against tokenised shares in seven large US companies: Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla. The Equities Hub, which launched on Friday on Aave’s new V4 architecture, uses tokens issued by Coinbase and is open only to eligible users outside the US. The starting limits are modest: about $29 million of stock collateral across all seven, a $32 million USDC supply cap and $21 million of borrowing.
Collateral factors vary by name, from 65 percent for Meta and Tesla to 79 percent for Microsoft, with Apple at 78, Alphabet at 76, Amazon at 73 and Nvidia at 70. Chainlink supplies the price data. The stocks are collateral only, so users cannot borrow them or borrow one against another, and USDC is the single asset on offer. The pool is shared, but each stock carries its own risk settings.
Aave founder Stani Kulechov framed the launch as turning tokenised stocks into something you can borrow against rather than merely hold or trade. That matters because tokenised equities have struggled to explain why anyone would prefer them to a brokerage account. Borrowing against them at any hour in an open onchain market is one of the few things a broker does not easily offer.
That round-the-clock feature is also the open question. The lending market never closes while the underlying shares do, so news that breaks on a Saturday arrives as a Monday price gap, and the launch materials reported so far do not set out how liquidations will behave across it. More Coinbase stocks could follow after risk review. How quickly the $29 million cap fills will say more about demand than the launch did.
