Coinbase is considering offering tokenized shares to its users in the United States through Base, an Ethereum layer-2 network. Base developer Jesse Pollak noted that non-US users already have access to tokenized Coinbase shares via platforms like Backed.
Current State of COIN Share Tokenization
In a recent post on X, Pollak confirmed that non-US users have access to tokenized shares of Coinbase through platforms like Backed, which provides tokenized real-world assets (RWA) services.
Regulatory Impact and Future Plans
Pollak shared that introducing tokenized COIN on Base is 'something we are looking into in the new year.' While there are no specific plans yet, he believes that eventually 'every asset in the world will be on Base.' The exchange is in an exploratory phase and is closely observing the regulatory landscape in the US. As Pollak mentioned, 'We need regulatory clarity and improvements that embrace onchain as an open platform to unlock this for everyone.'
Prospects of the Tokenized Asset Market
The tokenized RWA market is expected to reach $30 trillion globally, offering significant opportunities for platforms like Coinbase. While tokenized securities like COIN are currently restricted in the US, broader regulatory clarity is essential for the widespread adoption of such assets.
Coinbase remains cautiously optimistic about expanding tokenized shares to US users, hoping for a more crypto-friendly environment under future regulatory leadership. Industry experts agree that clearer rules will be key to crypto's growth, especially as US regulators, including the SEC, continue their enforcement actions against the sector.
