Jesse Pollak, the lead developer of Base, a layer-2 network built on Ethereum and supported by Coinbase, has revealed plans to tokenize the company’s COIN shares on the platform. In a post on X, Pollak said, “Every asset in the world will be on Base,” highlighting the goal of bringing traditional assets into the digital economy.
Pollak Explores Tokenizing COIN on Base, Emphasizes Regulatory Compliance
Pollak mentioned that the idea of tokenizing COIN on the Base network is still being explored. He clarified that no firm plans have been made yet, as the team is in talks with community members and figuring out the necessary regulatory permissions for the project. Given the complex regulatory environment in the U.S., Pollak stressed the importance of launching COIN on the platform in a safe, compliant, and future-oriented way. For now, users can access COIN through other platforms like BackedFi, but this is only available to U.S. citizens.
Tokenization Trend Grows with Major Players like BlackRock, Franklin Templeton, and Coinbase’s COIN Plans
Tokenization is becoming an increasingly popular trend in the digital currency world, with companies like Franklin Templeton and BlackRock taking the lead. Franklin Templeton is recognized as a trailblazer on Wall Street, while BlackRock’s BUIDL fund has regularly reached important milestones.
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Asset managers like Franklin Templeton and BlackRock are expanding their tokenized funds to offer broader access through platforms like Base Network. Since its launch last year, BlackRock has been growing its presence, recently approving Frax Finance’s DAO BUIDL as a frxUSD reserve asset, signaling major expansions in the protocol.
Ripple Labs is also venturing into tokenization, teaming up with Archax and increasing its use of the XRP Ledger through the RLUSD stablecoin, further supporting growth in this space.
Also Read: What Are Altcoins and Their Types?
Pollak told the community that these efforts are still in the early stages, suggesting that plans could evolve further. The potential tokenization of COIN on Base could help solidify the network as the largest layer-2 solution on Ethereum.
Coinbase’s initiative to tokenize COIN shares on Base is aimed at improving the integration and accessibility of digital assets within a broader ecosystem, marking important steps for both Coinbase and Base.
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