Base’s 1:1-backed tokenized equities launch ‘imminent,’ Pollak says
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Jesse Pollak, creator of Coinbase’s Ethereum layer-2 network Base, announced that the launch of 1:1-backed tokenized equities on Base is imminent. In a recent post on X, Pollak acknowledged that Robinhood Chain, another Ethereum layer-2 network, had successfully implemented tokenized equities within an EVM environment. He admitted that Base was currently behind in this area but is finalizing the remaining details to release the feature soon.
This development marks a strategic shift for Base, which is moving away from its earlier emphasis on social applications such as creator, content, and messaging apps. Pollak described the initial focus as a “wrong bet” and explained that the network is now concentrating on financial applications including trading, payments, AI agents, and tokenized assets. The introduction of 1:1-backed equities aligns with this pivot toward more finance-oriented products.
Why it matters
The source emphasizes that this advancement could have a significant impact on the adoption of tokenized assets in the Ethereum layer-2 space, highlighting the competition and innovation between platforms like Base and Robinhood Chain. Cointelegraph’s report encourages readers to independently verify information and maintains a commitment to transparent and accurate journalism.