Aerodrome launches 24/7 Nvidia trading on Base as tokenized stocks expand

Aerodrome Finance opened 24/7 weekend trading of tokenized Nvidia shares on Base, letting users swap NVDAc tokens outside traditional US market hours.

"Base exists to bring the world's economy onchain: a new financial system where any asset can be traded, borrowed against, and available globally, 24/7," Coinbase said when it launched the tokenized stocks on the Ethereum Layer-2 network Aug. 24.

The four Coinbase-issued tokens — NVDAc, METAc, AAPLc and GOOGLc — represent fractional ownership of Nvidia, Meta, Apple and Alphabet shares, each backed 1:1 by physical stock held by Alpaca Securities in a bankruptcy-remote structure supervised by Abu Dhabi Global Market. Chainlink deployed dedicated price feeds for the quartet Aug. 26, letting lending protocols including Aave, Morpho and Euler accept the tokens as collateral. Aerodrome, the largest liquidity hub on Base, runs the AMM pools where the equities trade continuously.

The move challenges the T+2 settlement cycle and restricted hours of legacy exchanges, letting holders react to an earnings call at 3 a.m. or weekend news. Yet the rails carry limits: Chainlink's feeds run Monday through Friday, and weekend quotations stay static while US markets are closed, creating potential gaps for liquidation-dependent lending. American investors are barred from the offering under Regulation S, and more tokenized stocks are scheduled to land on Base in coming weeks.

How the 24/7 rails work

Chainlink's V3 aggregator framework delivers total return valuations for each B20 token by combining current stock prices with adjustment multipliers sourced from Coinbase's onchain oracle registry. The multipliers account for corporate actions such as dividends, which Coinbase typically reinvests into supplementary shares after deducting fees and taxes, altering the deposit-to-share ratio over time. Feeds aggregate data from standard sessions, extended hours and overnight markets Monday through Friday, though overnight periods use fewer providers and update less frequently.

Who can trade

Distribution runs under Regulation S, governing securities transactions beyond US borders, so American investors cannot participate. Coinbase secured Abu Dhabi regulatory authorization in August for tokenized securities investment and custody, though the approval excludes US market access. Unverified users who acquire tokens through DeFi channels without completing Coinbase's compliance checks cannot redeem, exercise ownership privileges or submit voting instructions until they finish verification.

The shift toward always-on equities could pull liquidity from traditional brokerages that justify fees and limited access on legacy infrastructure. For builders on Base, tokenized stocks add a yield-bearing asset class to DeFi — dividends and stock lending are among the largest yield businesses in finance, with trillions of dollars of stock on loan at any time. The question is whether regulators in other major jurisdictions follow ADGM's lead, or whether liquidity keeps migrating to offshore hubs that embrace 24/7 composability.

This article is for informational purposes only and does not constitute investment advice.