Catenaa, Sunday, January 12, 2025 – Coinbase is considering offering tokenized versions of its stock, COIN, to U.S. users through Base, its Ethereum layer-2 network. The initiative, currently in its exploratory phase, was announced by Base developer Jesse Pollak on January 3 via the X platform.
Pollak emphasized that regulatory clarity is essential for the project to move forward. “We are working to understand what needs to be unlocked from a regulatory perspective to bring assets like COIN to Base in a safe, compliant, and future-looking way,” he said.
Tokenized COIN shares are already accessible to non-U.S. users through platforms like Backed, a protocol for tokenized real-world assets (RWAs). Coinbase’s potential move reflects its broader vision of integrating every asset into its blockchain ecosystem.
The global market for tokenized RWAs, including securities, is valued at an estimated $30 trillion, with tokenized assets gaining momentum as a bridge between traditional finance and blockchain technology.
Coinbase has also benefited from a recent surge in its stock price, which climbed above $300 in November 2024 following Donald Trump’s election victory. Analysts predict his administration could ease regulatory pressures on the cryptocurrency industry.
Despite these advancements, regulatory uncertainty under the current Biden administration remains a hurdle, with the SEC taking over 100 enforcement actions against crypto firms. Experts note that U.S. regulations still trail those of other major jurisdictions.
Tokenization is poised for growth, with McKinsey & Company projecting a $2 trillion market by 2030. Companies like Goldman Sachs are already planning to launch new tokenization products this year, highlighting the sector’s increasing relevance.
