Amazon (Coinbase Tokenized Stock) (AMZNC): What It Is

Amazon (Coinbase Tokenized Stock), ticker AMZNC, is an onchain certificate designed to provide economic exposure to Amazon shares. It is issued by Coinbase Onchain SPV Ltd in the Abu Dhabi Global Market (ADGM), rather than by Amazon. The certificate represents a beneficial interest in a pool of Amazon shares and related property; it is not the same as owning Amazon shares directly or being registered as an Amazon shareholder.

The underlying shares are held in a segregated custody account with a regulated broker-dealer and custodian. Onchain Marketplace Ltd operates the tokenization infrastructure and maintains the definitive legal ownership register as a Central Securities Depositary. The structure is intended to connect a traditional financial asset with blockchain-based holding and transfer, but it also means token holders rely on the issuer, custodian, and related infrastructure.

AMZNC’s stated purpose is to represent economic exposure to Amazon shares in token form. Tokens can be held and transferred on supported blockchain networks and may be used in decentralized finance markets where supported. The project description identifies Base as the chain on which AMZNC is issued. It does not list AMZNC as the native token of a blockchain.

Each token initially represents a 1:1 beneficial interest in the relevant underlying share pool, but that ratio can change. Dividends and other distributions are generally reinvested after applicable taxes, fees, and expenses, with the resulting value reflected in an adjustment to the share-to-token ratio. Fees, taxes, corporate actions, and other adjustments can also affect that ratio. As a result, the token’s economics are not necessarily captured by a fixed one-token-to-one-share assumption. Availability and use can depend on the platform, market, and holder’s eligibility.

There is no maximum supply listed. The reported circulating and total supply figures do not reconcile, so they should not be treated as a reliable supply count without confirmation from an authoritative source. Authorized Participants can create tokens by delivering the corresponding underlying shares or subscription value, according to the project description; this is different from ordinary users minting tokens themselves.

AMZNC was trading at about $269, with a market capitalization of about $2.2 million, as of 2026-11-05. These are time-sensitive market figures, not a measure of guaranteed redemption value. The token’s market price may differ from the value of the underlying shares because of liquidity, trading conditions, access restrictions, or other factors. No price direction can be inferred from a single snapshot.

AMZNC carries risks beyond ordinary stock-market movements. Its value can change with Amazon shares, while the token can also trade at a premium or discount to the value represented by its share-to-token ratio. Holders depend on the issuer, custodian, legal structure, tokenization operator, and applicable recordkeeping systems. Changes in regulation, custody arrangements, corporate actions, fees, or service availability could affect holders’ rights or ability to transfer or use the token. A tokenized certificate is not a direct shareholding, and the project description does not establish that every holder can redeem tokens for shares or cash.

For self-custody, use a wallet that supports Base and verify the AMZNC contract address through a trustworthy, official source before receiving or transferring tokens. Keep the wallet’s recovery phrase offline and private; anyone who obtains it may control the assets. Transfers to an incompatible network or incorrect address can result in permanent loss. If using an exchange or DeFi app instead, consider its custody, smart-contract, liquidity, and access risks, and check whether you are eligible to hold or use the token.