Coinbase stock tokens on Base

Coinbase issues tokenized stocks on Base under the B20 standard. pegproof reads every one of them from public chain data every 10 minutes, with the full history since the first token was created. The list of tokens follows the list Coinbase publishes, read once a day.

What is checked

• Supply against history. Whether each token's total supply equals everything minted minus everything burned since its first mint.
• How tokens are minted. Whether every mint went through Coinbase's token supply manager, which records an order with it. Any mint without one is listed.
• Mint allowance. How much each minter may create per 24 hours, and the most it has created in any 24-hour window. The allowance refills continuously, so up to twice the configured amount can be created within one 24-hour window.
• Roles. Who can mint, burn, pause or change the multiplier on each token, and every grant and removal of those rights.
• Multiplier changes. The multiplier is the number of shares one token stands for; it moves on dividends and splits. Each change is compared with Coinbase's own announcement and corporate-action record.
• Administrative actions. Changes to the transfer blocklist, the list of addresses allowed to redeem, and other issuer settings.

The tokens Aave assesses as collateral

What this does not cover

• The shares behind the tokens are held off-chain by the issuer's custodian. pegproof sees issuance on Base, not the custody account.
• Prices.
• Redemption terms and timing, which are not recorded on-chain.

Results

The first report, with the results for each token and a script anyone can run to check them again, comes out in early December 2026. Until then this page describes the checks only.

pegproof's checks of Robinhood's stock tokens on Robinhood Chain are on the home page, and the methodology explains them.