Brief
Tokenized equities + stablecoin infrastructure. Operates Base L2. USDC co-creator with Circle. May 5, 2026: tapped Centrifuge as preferred tokenization backbone with a seven-figure equity stake. Centrifuge becomes the default issuance layer for tokenized assets across Coinbase's ecosystem with first institutional assets targeting Base in the following weeks. Coinbase Ventures previously backed Centrifuge's 2022 strategic round and 2024 $15M Series A.
Recent activity
Latest moves on the changelog feed.
- May 5, 2026WIRED
Coinbase → Centrifuge. Seven-figure equity stake plus preferred tokenization backbone status. Centrifuge becomes the default issuance layer for tokenized assets across Coinbase's ecosystem. First institutional Base launches targeted within weeks. Coinbase Ventures was already in the cap table from 2022 and 2024.
Snapshot
Key terms and identifiers.
- Asset classes
- Equities, Treasuries
- Regulatory
- sec-reg-d, sec-spot-etf, mica, sab-121
- Analytics
- defillama.com/protocol/coinbase
Milestones
How this player got here.
- May 2026Equity stake in Centrifuge; preferred tokenization backbone for Coinbase ecosystem
- Feb 2025International Exchange live
- Aug 2024cbBTC launched on Base
- Jan 2024Spot BTC ETF custodian
Connections
Who they build with, build on, integrate with.
Flow
Capital, products, and distribution moving outward.
Dependency
Where this player builds on, integrates, or relies on others.
