Coinbase Plans to Bring Tokenized Stocks of Its Native $COIN Token to the Base Blockchain

Jesse Pollak, Base blockchain's creator who also serves as Head of Protocols at Coinbase, emphasized the crypto exchange's initiative to bring $COIN's tokenized stocks to Base.

Coinbase, a major crypto exchange in the U.S., is reportedly planning to launch tokenized stocks of its native $COIN token on the Base blockchain.

The development was highlighted by Jesse Pollak, Base blockchain creator and Head of Protocols at Coinbase, in a statement on social media. Pollak mentioned Coinbase’s potential initiative to introduce tokenized stocks of its $COIN token on Base.

However, the senior Coinbase executive noted that the project is still in its early phases and lacks concrete plans. The proposal could mark a significant move in bridging conventional equities and blockchain technology.

Tokenized stocks are digital versions of equity shares, enabling investors to trade fractional shares through blockchain entities. Pollak emphasized the need for substantial regulatory clarity to integrate $COIN and other such assets into Base compliantly and securely.

In his statement, Pollak expressed optimism about Base presenting “every asset,” indicating Coinbase’s efforts to expand asset management capabilities with blockchain technology. He also discussed the importance of establishing a robust regulatory framework that supports on-chain platforms, ensuring a compliant and secure environment for tokenized assets.

While the initiative lacks a specific plan or official timeline, Pollak highlighted the transformative potential of integrating $COIN tokenized stocks on Base. He added that U.S. residents cannot yet directly access $COIN stocks on Base. However, non-U.S. consumers can already reach them on Base through third-party platforms like BackedFi, which allows international consumers to access tokenized equity shares of Coinbase.

According to Coinbase executive Jesse Pollak, the move to offer the $COIN token’s tokenized stocks on Base is driven by the need for a proper regulatory framework. The regulatory clarity and advancements will contribute significantly to increasing adoption. Currently, the platform is understanding the needs from a regulatory perspective, to integrate $COIN and other such assets into Base.