Tokenized equities with 1:1 backing to arrive 'very soon' on Base, confirms Pollak
Coinbase's Ethereum layer-2 network is set to broaden its suite of financial products, marking a strategic shift from its initial focus on social applications.
The launch of 1:1-backed tokenized equities on Base is approaching rapidly, as confirmed by Jesse Pollak, the creator behind Coinbase's Ethereum layer-2 network.
In a post shared on X this Tuesday, Pollak acknowledged that Robinhood Chain, the newly introduced Ethereum layer 2 platform, had successfully implemented tokenized equities within an EVM environment, noting that Base was lagging in this particular area.
When Garrett Skrovina, who serves as head of fintech at Lazer Technologies, inquired about when 1:1-backed equities would be available on Base, Pollak responded: "Imminent — dotting i's and crossing t's, but should be very soon."
This upcoming launch represents part of Base's broader shift toward financial applications, moving away from the network's previous emphasis on social-oriented products.
In recent statements, Pollak acknowledged that Base had made a "wrong bet" by placing priority on creator, content and messaging apps. The network's current focus has shifted to trading, payments, AI agents and tokenized assets.