Bilibili Tokenized Stock (BILIc) is a Coinbase-issued token on Base that tracks Bilibili, the Chinese online video and entertainment platform. Eligible investors outside the United States can buy it with USDC, keep it in a self-custody wallet, and trade it at any hour. This guide explains how BILIc works and how to buy it safely.
The table below summarizes the core parameters you should confirm before placing any order for BILIc.
| Specification | Official Detail / Parameter |
|---|---|
| Asset Name & Symbol | Bilibili Inc. Tokenized Stock (Coinbase) (BILIc) |
| Blockchain Network | Base (B20 token, ERC-20 compatible) |
| Verified Contract Address | 0xb200000000000000000000ca7C6D1438e7245eb6 |
| Primary Active Exchanges | Aerodrome and other Base DEX routers |
| Required Trading Pair / Base Currency | USDC on Base, plus ETH on Base for gas |
| Recommended Non-Custodial Wallet | Trust Wallet, Base App, or MetaMask |
What Is Bilibili Tokenized Stock (BILIc) and How Does It Work?
Bilibili is a Chinese video community and entertainment platform popular with younger audiences, with businesses spanning video content, mobile games, live streaming, and advertising. Its American depositary shares trade on Nasdaq under the ticker BILI. BILIc tracks that Nasdaq-listed exposure in token form.
BILIc belongs to Coinbase Tokenized Stocks, which launched on Base on August 24, 2026, and later added companies beyond the first U.S. tech names. It is a backed token rather than a synthetic one. Coinbase and Base state that each token is matched 1:1 by securities held with Alpaca, a regulated custodian, in bankruptcy-remote custody separate from Coinbase.
Holders receive a beneficial claim, not full legal ownership. Reporting on the offering prospectus notes that holders get no automatic voting rights. Corporate actions are reflected through an adjustment that keeps token balances unchanged, so BILIc continues to work inside DeFi apps when those events happen.
Coinbase issues the tokens under Abu Dhabi Global Market (ADGM) rules and offers them under Regulation S, which excludes U.S. persons and residents of other restricted jurisdictions. Institutional market makers mint and redeem tokens directly, while everyone else trades them on onchain markets and can move them between wallets freely.
Where to Buy Bilibili Tokenized Stock (BILIc): Exchanges and Trading Pairs
Coinbase tokenized stocks trade against USDC on Base. Aerodrome is the venue Base highlights for liquidity, and routers such as 0x, 1inch, KyberSwap, and CoW Swap can route orders too. Base publishes every official ticker, contract address, and venue at base.org/stocks.
BILIc's market is modest. At the time of writing, CoinMarketCap shows a price near $14.85, a market cap of about $38,520, and 2,593 BILIc across 68 holders. Its liquidity-to-market-cap ratio of 42.37% implies roughly $16,300 in pool liquidity, with no trading volume recorded over the prior 24 hours.
One historical figure needs to be treated with caution. CoinMarketCap lists an all-time high of $99.12 on October 10, 2026, far above the token's other prices, followed by an all-time low of $13.73 two days later. That launch-day high reflects a thin new pool, not Bilibili's real share price.
The three points below cover the market factors that most affect where and how you should buy BILIc.
- Main Exchange: Aerodrome on Base hosts the main USDC liquidity for Coinbase tokenized stocks. Open it from the venue links on base.org/stocks, and confirm your wallet and the site both show the Base network before trading.
- Is the Liquidity Locked? Market makers and liquidity providers supply the pool, and no team lock applies. With about $16,300 of depth, larger orders can move the price, so check impact carefully before confirming any trade.
- How to Spot Fake Tokens: Coinbase-issued stock tokens on Base use contract addresses starting with 0xb200. Other platforms issue their own tokenized stocks under different tickers and addresses, so always match the full BILIc address.
How to Buy Bilibili Tokenized Stock (BILIc): Step-by-Step Guide
The five steps below walk you through buying BILIc with USDC on Base. Before starting, confirm that you are not a U.S. person or a resident of another restricted jurisdiction.
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Step 1: Set Up a Base-Compatible Wallet
Install a self-custody wallet that supports Base, such as Trust Wallet (listed by CoinMarketCap), Base App, or MetaMask, from the official source only. Write your recovery phrase on paper, store it offline, and never share it or enter it on any website.
Add Base and select it as the active network. Base uses the same address format as Ethereum, but balances on each network are separate. Custodial exchange accounts generally cannot connect to Aerodrome, so you need a wallet where you control the keys.
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Step 2: Add USDC and ETH on Base
Buy USDC on an exchange that supports Base withdrawals, and choose Base as the network when you withdraw. If your USDC is on another chain, move it with a reputable bridge. Send a small test amount first and confirm it arrives before sending more.
Add a small amount of ETH on Base for gas fees too. Base fees are usually low, but approvals and swaps fail without ETH. Keep a little extra so you can sell, transfer, or revoke approvals later without making another deposit.
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Step 3: Go to Aerodrome and Connect Your Wallet
Visit base.org/stocks and use its Aerodrome link, or type the Aerodrome address directly. Avoid sponsored search results, which often lead to fake DeFi sites. Check the domain in your browser's address bar before connecting your wallet.
Click "Connect," choose your wallet, and approve the request. Confirm that Aerodrome shows Base as the active network. Connecting only shares your public address. The site cannot move your funds until you approve a token allowance or sign a swap yourself.
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Step 4: Paste the Official BILIc Contract Address
Select USDC as the token you are paying with. In the receiving field, paste 0xb200000000000000000000ca7C6D1438e7245eb6 rather than searching for "Bilibili," which could surface unrelated tokens or tokenized stocks from other issuers using the same name.
Check that the token displays as BILIc and that its address starts with 0xb200. Compare it with base.org/stocks and CoinMarketCap character by character. If the ticker or any part of the address does not match, stop and verify your source before going further.
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Step 5: Set Slippage and Swap USDC for BILIc
Enter your USDC amount and review the quoted price and price impact. Compare the quote with Bilibili's latest Nasdaq price rather than CoinMarketCap's launch figures. Set slippage around 0.5% to 1%, and raise it only slightly if the swap fails.
Approve USDC if prompted, then click "Swap" and confirm in your wallet. When the trade completes, open it on BaseScan and check that the tokens came from the official BILIc contract. Add BILIc as a custom token if your wallet does not show it.
Is Bilibili Tokenized Stock (BILIc) Safe? Risks to Know Before Buying
BILIc combines 1:1 backing, regulated custody, and an established Nasdaq-listed company. That gives it a stronger base than speculative crypto tokens, but you still carry Bilibili's stock risk and the liquidity and technical risks of a young onchain market.
The risks below are specific to BILIc's profile as a tokenized Chinese internet stock on Base.
- Low Liquidity and Price Swings: With 68 holders and no recorded daily volume, BILIc can trade at a premium or discount to the Nasdaq price. Its launch-day spike to $99.12 shows how badly a new, thin pool can misprice a stock.
- Smart Contract Risks: According to published materials, Base and Spearbit reviewed the B20 standard. Holding BILIc still exposes you to the token contract, the DEX, and any lending protocol you use, where bugs or exploits could cause losses.
- Risk of Losing Your Money: Bilibili's shares react to user growth, advertising spending, game releases, and regulation of China's internet sector. BILIc follows those moves and can also shift on weekends, when Nasdaq is closed but onchain pools stay open.
Regulatory news is a specific factor for this stock. Policy changes affecting Chinese gaming approvals or online content can break during Asian hours, well before Nasdaq opens. In a thin onchain pool, traders may react first, and limited liquidity can exaggerate those moves.
Conclusion
Buying BILIc means setting up a Base wallet, adding USDC and a little ETH on Base, and swapping on Aerodrome using the contract 0xb200000000000000000000ca7C6D1438e7245eb6. Verify the address on base.org/stocks and CoinMarketCap, and compare your quote with Bilibili's Nasdaq price before confirming.
BILIc gives eligible non-U.S. investors 1:1 backed exposure to Bilibili with 24/7 access. Ignore the unrealistic launch-day high, keep orders sized for the pool's limited depth, and remember that the product is unavailable to U.S. persons.
Frequently Asked Questions
The answers below cover the questions buyers most often ask before purchasing or holding BILIc for the first time.
