Borrow USDC Against Stocks
Aave Launches Equities Hub Allowing Users to Borrow USDC Against Coinbase Stock Tokens
Anonymous
Aave V4 on Base has launched an Equities Hub where eligible users outside the United States can deposit seven Coinbase tokenized stocks—Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla—as collateral to borrow USDC. Chainlink supplies the onchain pricing data, and the market has a $21 million USDC borrowing cap; the stocks are collateral-only at launch and cannot themselves be borrowed. The integration gives holders a way to borrow against their equity exposure without selling the tokens, extending tokenized stocks beyond holding and trading into DeFi lending.
Key Points
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The market’s other initial limits include about $29 million in total stock collateral and a $32 million USDC supply cap. Collateral factors vary from 65% to 79% by stock, with asset-specific risk settings designed to isolate problems affecting one equity from the others.
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The tokens are issued by Coinbase Onchain SPV Ltd., while the underlying shares are held by Alpaca Securities in segregated custody accounts. Cash dividends are used to buy additional shares after fees and withholding taxes; stock splits and other corporate actions are reflected through an onchain multiplier.
3
Aave founder and CEO Stani Kulechov said the principal challenge for tokenized assets is now go-to-market execution rather than technology, and suggested institutions could drive demand for onchain borrowing because they “come with size.”
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Aave says the market could later support additional Coinbase tokenized stocks and GHO as a borrowable asset, subject to governance and risk review.
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