Jesse Pollak Reveals Efforts To Tokenize Coinbase COIN On Base

The COIN Tokenization on Base

Jesse Pollak, the core builder of the Coinbase Exchange-backed Ethereum layer-2 network Base, has hinted at the plans for the tokenization of the firm’s COIN stock available on the protocol. He shared this vision in a post on X, stating “every asset in the world will be on Base.”

According to Jesse Pollak, integrating COIN on Base is something the layer-2 developers are currently looking into. Amid conversations with community members, Pollak confirmed that despite the new tilt, there are no concrete plans regarding this tokenization for now.

The Base developer said the team is in an exploratory phase for now, with the goal of understanding what the team needs to unlock from a regulatory standpoint that will enable COIN tokenization on Base. Considering the fragile nature of regulations in the United States, Pollak stated the goal remains to launch COIN on the protocol “in a safe, compliant, and future-looking way.”

Despite the reservations, he confirmed that users can already access COIN on other protocols like BackedFi. However, the accessibility to BackFi is limited to non-US citizens. It remains crucial to secure regulatory clearance in order to unlock the product for all users as an open-source platform.

and to clarify even further: there are no concrete plans right now. we are in an exploratory phase and working to understand what needs to be unlocked from a regulatory perspective to bring assets like $COIN to @base in a safe, compliant, future-looking way.

still day one.

— jesse.base.eth (@jessepollak) January 3, 2025

In all, Jesse Pollak reassured community members that it is still day one, implying there is room for more plan refinement. The COIN launch on Base might help solidify the protocol’s rank as the biggest L2 on Ethereum after recently outshining Arbitrum.

Tokenization of Real-World Assets: Who’s Leading the Pack

Tokenization is a growing trend in the digital currency ecosystem, with firms like Franklin Templeton and BlackRock taking the lead. While Franklin Templeton is one of the pioneers on Wall Street, BlackRock’s BUIDL money fund has continued to stir major milestones.

These asset managers are expanding their tokenized funds to protocols like Base Network for more reach.

BlackRock has continued to expand since its introduction last year. Lately, Frax Finance said its DAO has approved BUIDL as frxUSD reserve asset. This marks one of the major protocol expansion reported in the past few months.

Besides these firms, Ripple Labs is also getting into the tokenization game. Specifically, it has a partnership with Archax with growing reliance on RLUSD stablecoin and XRP Ledger as innovations to help drive growth in this niche.

Conclusion

The tokenization of real-world assets is a growing trend in the digital currency ecosystem, with firms like Franklin Templeton and BlackRock leading the pack. The integration of COIN on Base Network is still in its exploratory phase, with the goal of understanding what regulatory clearance is needed to enable tokenization. The launch of COIN on Base could help solidify the protocol’s rank as the biggest L2 on Ethereum.

FAQs

Q: What is the current status of the COIN tokenization on Base?

A: The COIN tokenization on Base is still in its exploratory phase, with no concrete plans for now.

Q: Can users already access COIN on other protocols?

A: Yes, users can already access COIN on other protocols like BackedFi, but the accessibility is limited to non-US citizens.

Q: What is the goal of the Base developer regarding the COIN tokenization?

A: The goal is to launch COIN on the protocol “in a safe, compliant, and future-looking way.”

Q: Who are the leading firms in the tokenization of real-world assets?

A: Franklin Templeton and BlackRock are leading the pack in the tokenization of real-world assets.

Q: What is the significance of the COIN launch on Base?

A: The COIN launch on Base could help solidify the protocol’s rank as the biggest L2 on Ethereum.