Base's 1:1-backed tokenized equities launch 'imminent,' Pollak says
Base, Coinbase's Ethereum layer-2 network, is moving toward the launch of 1:1-backed tokenized equities, creator Jesse Pollak said Tuesday. In a post on X, Pollak called the release "imminent," noting final preparations are underway and the launch should arrive very soon.
Pollak's remarks came in response to a question about the timeline for issuing equities backed one-to-one by traditional stocks. He acknowledged that Robinhood Chain, which recently rolled out its own layer-2 mainnet, had demonstrated a workable model for tokenized equities on an EVM environment. By contrast, Base has been behind on that front but is now prioritizing its arrival.
The pivot marks a shift for Base, which previously emphasized social applications. Pollak has conceded that the network's early bet on creator, content, and messaging apps left it trailing competitors in areas such as prediction markets and perpetual futures. The team is now concentrating on financial use cases, including trading, payments, AI agents, and tokenized assets.
Tokenized equities represent a promising bridge between traditional finance and on-chain markets. When issued on a 1:1 basis, each token corresponds to a share held in custody, aiming to provide price parity and redemption rights. Such products could appeal to institutional and retail investors seeking on-chain exposure to listed stocks without assuming the risks associated with synthetic derivatives.
Base's focus on this category aligns with broader industry efforts to bring real-world assets onto blockchain rails. Proponents argue that tokenized equities can improve settlement efficiency, expand global access, and enable new financial primitives. Skeptics point to regulatory questions, custody arrangements, and liquidity constraints as key challenges.
For Base, the launch could strengthen its position among Ethereum layer-2 networks that compete for financial applications. If successful, 1:1-backed tokenized equities might attract developers building trading infrastructure, lending protocols, and other financial services on the network.
Pollak's comments suggest Base is working through the final technical and compliance steps needed to bring the product to market. The timing of the launch will be closely watched, as it could signal whether the network can convert its financial ambitions into a competitive advantage.