Aave V4 on Base Tops $11M in Coinbase Tokenized Stock Deposits

Aave V4's deployment on base now holds more than 11 million in deposits of Coinbase-issued tokenized stocks, according to a chart circulated by baseposting and amplified by Base lead jessepollak on Oct. 26, 2026. The chart puts the figure at 11.2 million as of that date, clearing the 10 million threshold.

The deposits represent tokenized equities issued by Coinbase being supplied into Aave V4 markets on Base, where eligible users can borrow against stock exposure rather than selling it. base described the capability as stock-backed loans in an Oct. 23, 2026 post, framing it as a way for eligible investors to access liquidity against tokenized shares.

Building on a September launch

Coinbase Tokenized Stocks went live as collateral on Aave V4 on Base on Sept. 25, 2026, with USDC as the primary borrow asset. The market has since expanded into adjacent products: Superform rolled out yield on MAG7 equities powered by Aave on Base in early October, and Pendle introduced a looping product for leveraged long exposure to Base tokenized stocks on Oct. 26, 2026.

The 11.2 million figure is small relative to Aave's overall footprint but marks one of the clearer traction data points for real-world assets used as DeFi collateral on Base. Aave V4 also operates on Avalanche following a July 2026 deployment.

What to watch: whether tokenized stock deposits keep compounding as more yield and looping products route through the same Aave markets, and whether additional issuers beyond Coinbase are onboarded as collateral.