Coinbase is considering offering tokenized shares of its stock to U.S. users of Base, the Ethereum layer 2 network, Base developer Jesse Pollak said in a post on the X platform. .
Tokenized COIN shares are already available to users outside the U.S. through protocols such as Backed, a tokenized real asset (RWA) platform, Pollak said in a Jan. 3 X post.
COIN on Base is “something we’re looking at in the new year,” Pollack said, adding that “eventually, every asset in the world will be on Base.”
Pollak said Coinbase “has no concrete plans at this time” and is in an “exploratory phase” as the exchange works to understand how to navigate U.S. regulations.
“Unlocking it for everyone requires regulatory clarity and improvements that embrace on-chain as an open platform,” Pollack added.
source: Jesse Pollack
relevant: Tokenization could transform US markets if Trump gets his way
a rapidly growing market
Collectively, tokenized RWAs, including tokenized securities, represent a $30 trillion market opportunity globally, Colin Butler, head of global institutional capital at Polygon, told Cointelegraph in an August interview.
Cointelegraph Research reports that U.S. cryptocurrency stocks such as COIN have seen huge gains since Donald Trump’s presidential election victory last November, with many saying his victory will help the industry.
On November 11, COIN surged more than 20%, pushing the stock price above $300 for the first time since 2021.
“We see Coinbase as a beneficiary of this election outcome as it is struggling with regulatory pressure from the SEC and is actively fighting it in court,” Morningstar equity researcher Michael Miller wrote in a November research note. .
“With the incoming Donald Trump administration expected to be friendlier to the cryptocurrency industry, the company’s staking business will face less regulatory pressure,” Miller said.
Regulatory clarity is needed
Clearer U.S. rules are important for cryptocurrency adoption, especially tokenized securities like COIN, analysts say.
Under President Joe Biden, the U.S. Securities and Exchange Commission has taken more than 100 enforcement actions against cryptocurrency companies for alleged violations of securities laws.
“The United States is beginning to attempt to move away from regulation, at least through enforcement, toward a broader framework passed by Congress,” investment bank Citi said in a December research note shared with Cointelegraph.
But U.S. legislation “lags behind other major jurisdictions,” Citi said.
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