Aave Founder Stani Kulechov: More Stocks Will Be Tokenized
Aave founder Stani Kulechov retweeted Base head Jesse Pollak's post about tokenized stocks, stating that "more stocks will be tokenized."
Jesse Pollak mentioned that tokenized stocks are just starting out, aiming to make Base a global stock market.
Coinbase has launched tokenized stocks on Base, with daily trading volume around $70 million to $100 million, currently offering about 50 stocks, with plans to expand to 250; the circulating supply of tokenized stocks has increased from about $400 million to $3.3 billion within a year.
Aave has supported the use of Coinbase's tokenized stocks as collateral to borrow USDC on Base and has partnered with Dialectic, Superform, and Zyfai to provide stock vaults and yield products, currently limited to non-U.S. users.
Stani has previously stated that Aave is expanding its collateral range from crypto assets to securities, aiming to enter the multi-trillion dollar securities lending market.
In market mechanics, buyers are users who wish to hold stocks while gaining on-chain liquidity, and sellers are the tokenized stocks issued by Coinbase and Aave's lending pool; the event is driven by Base's expansion, with funds flowing from traditional brokerage channels to on-chain collateral and yield, benefiting the Base and Aave ecosystems while putting pressure on traditional securities lending that relies on intermediaries.
This interaction shows that tokenized stocks are expanding from trading to lending and yield, with Base and Aave jointly promoting stocks on-chain.
Source: Public Information
ABAB AI Insight
Stani Kulechov has long advocated for Aave to expand from crypto asset lending to securities, having enabled Coinbase tokenized stock collateral lending on Base; this retweet of Jesse Pollak's statement about making Base a global stock market further emphasizes the push for more stocks to be tokenized.
The capital pathway reflects the introduction of 1:1 supported tokenized stocks issued by Coinbase into the Aave V4 lending pool, allowing users to borrow stablecoins without selling stocks while enhancing capital efficiency through vaults and yield products; currently targeting non-U.S. users to avoid direct regulatory conflicts.
This is similar to the historical path of tokenizing traditional assets and integrating them into DeFi lending, as well as the attempt to shift securities lending from broker intermediaries to on-chain transparent pools; it is currently in a phase of expanding from USD stablecoins to equity tokenization.
Essentially, this represents a restructuring of the industry chain: transforming stocks from traditional brokerage and clearing systems into on-chain collateralizable, transferable, and 24/7 tradable assets, shifting lending and yield functions from being intermediary-led to protocol-led, thereby altering the cost and access structure of securities financing.
ABAB News · Cognitive Law
Tokenization of stocks starts with collateralization
Non-U.S. users will run through the process before discussing compliance
The platform aims to become a global market rather than a single point of trade