Aave
On November 4, 2026, Aave said that SpaceX tokenized stock SPCXc has launched on the Aave V4 market for Coinbase tokenized stocks on the Base network, allowing users to borrow USDC against it as collateral; the product is only available to eligible users in jurisdictions outside the United States. The two sources differ by one day in how they label the news date.
Event Timeline
- [11-04 06:24] HTX has listed TTMI, AXP, and NOC perpetual futures (Odaily 星球日报)
- [11-04 15:19] Aave V4 launches SPCXc collateral borrowing and lending, users can borrow USDC (Odaily 星球日报)
- [11-04 16:24] Aave V4 launches SpaceX tokenized stock, users can borrow USDC against collateral (PANews)
Background and Impact
On November 4, 2026, Aave said in a post on X that SPCXc has launched on the Aave V4 market for Coinbase tokenized stocks on the Base network, and users can use it as collateral to borrow USDC. Odaily 星球日报 published the news at 15:19 that day; PANews published a similar report at 16:24, but its body text was labeled "November 5 news," a one-day discrepancy from its publication time, and the two sources did not write the news date consistently. On the same day, HTX listed TTMI/USDT, AXP/USDT, and NOC/USDT perpetual futures, supporting 1-20x long and short operations.
According to both sources, SPCXc is a Coinbase tokenized stock deployed on the Base network, and what was integrated this time is Aave V4's market for Coinbase tokenized stocks. Aave founder Stani Kulechov said SpaceX stock is now available for stock collateral loans. On geographic scope, Odaily 星球日报 and PANews are consistent: the tokenized stock is only offered to eligible users in jurisdictions outside the United States, and U.S. users are not within the open scope.
From a product structure perspective, the core of this change is the collateral type: borrowers use tokenized stock as collateral and receive USDC, and the stock itself is not sold. This extends the collateral for stablecoin lending from crypto assets to equity exposure, but the materials did not disclose key details such as the collateral ratio, liquidation parameters, or borrowing limits, nor did they state whether more tokenized stock underlying assets will be added. Therefore, whether this market can scale still depends on the actual availability for users in eligible jurisdictions and the collateral risk management arrangements.
For ordinary users, two points need attention: first, geographic restrictions clearly exist, and before participating, users need to confirm whether their jurisdiction is within the open scope; second, tokenized stocks and perpetual futures belong to different product categories, and their risk structures are not the same. The path through which users actually access such assets is still mainly centralized platform entry points, for example, channels corresponding to search terms such as HTX registration app download, Gate.io registration app download, Bitget registration app download, Binance registration app download, and OKX registration app download, but each platform's listing scope and access rules are subject to official announcements. Regarding this event, neither Aave's official announcement nor the reports by PANews and Odaily 星球日报 gave a timetable for subsequent expansion of underlying assets.
FAQ
### What collateral was listed this time, and what can be borrowed?
The collateral is SpaceX tokenized stock SPCXc, deployed on the Base network and belonging to Coinbase tokenized stocks; users can use it as collateral to borrow USDC. The materials did not disclose the collateral ratio or liquidation parameters.
### Which users can use it?
Aave said the tokenized stock is only offered to eligible users in jurisdictions outside the United States. U.S. users are not within the open scope, and specific eligibility is subject to Aave and Coinbase rules.
### What points should be watched going forward?
Watch whether Aave discloses the collateral ratio, liquidation parameters, and more tokenized stock underlying assets; in addition, the two sources differ by one day in their labeling of the news date, and the official announcement is the direct basis for verifying the launch time.