B20: THE STANDARD BEHIND TOKENIZED STOCKS ON BASE

Summary from the TLDR Crypto newsletter

Coinbase launched four tokenized equity tokens (NVDAc, METAc, AAPLc, and GOOGLc) on Base for non-US users, built on B20, a Base-native standard for compliant onchain asset issuance. B20's multiplier system handles corporate actions by updating a single onchain value rather than rewriting ERC-20 balances, keeping AMM pool reserves unchanged during stock splits and dividends and preserving DeFi liquidity. A shared Policy Registry propagates compliance updates such as sanctions blocklists to every asset referencing it, and administrators holding the seize role can move tokens from flagged addresses to authorized destinations with onchain memos recorded atomically. The launch generated $10.8M in 24-hour volume and $3.06M in DEX liquidity across ~50 protocols including Aave, Morpho, and Aerodrome, as the tokenized public equities sector reaches $2.48B total with Ondo leading at $872.7M.