Coinbase Executive Pegs Tokenized Stock Activity at About $20 Million a Week

John D’Agostino, Coinbase Head of Institutional Strategy, put the company’s tokenized-stock business at roughly $20 million a week, describing it as growing without defining what the figure measures.

D’Agostino did not say whether the amount refers to new tokens created, trading volume or net deposits. He said Binance had a bigger head start and was doing “multiples” of Coinbase’s figure, but did not identify the measure used for that comparison.

Coinbase’s tokenized stocks launched on Base, its Ethereum layer 2 network, Aug. 24. Issued from Abu Dhabi Global Market, the products are not available to U.S. persons.

Coinbase’s Base stock tokens have recorded about $1.02 billion in cumulative trading volume. That total cannot be directly compared with D’Agostino’s weekly figure because he did not define what it measures.